Russian stocks seen flat amid lack of major drivers

MOSCOW, Mar 29 (PRIME) -- The Russian stock market may open neutrally on Thursday amid lack of major drivers and uncertain foreign background, analysts said.

“We expect a neutral start of trading in Russia with an insignificant change on the MOEX Russia Index, around the notch of 2,250 points,” Vitaly Manzhos, senior risk manager at investment company Nord Capital, said. The nearest support levels will be 2,240 and 2,230 points, and resistance levels will be 2,260 and 2,270 points, he said.

After the neutral opening, the MOEX Russia Index may switch to consolidation around the opening levels amid uncertain foreign background, the analyst said.

Olma senior analyst Anton Startsev said the U.S. stocks lost 0.9%, the U.S. stock index futures are mixed, European indices closed mixed, and Asian stocks are not showing single dynamics.

“There are still no grounds to turn the market upwards, but during the day the sellers’ pressure may reduce due to the “cooling” of speculative activity of non-residents ahead of the long holidays – tomorrow, major Western stock floors (including bourses of the U.S. and the U.K.) will not trade because of Good Friday,” Startsev said.

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