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Russian stocks show record deepest fall on military operation in Ukraine

MOSCOW, Feb 24 (PRIME) -- The Russian stock market plummeted on Thursday following President Vladimir PutinТs decision to start a military operation in Ukraine, analysts said.

The MOEX Russia Index slid 33.28% to 2,058.12 and the RTS dropped 39.44% to 742.91.

УThursday was an extremely unsuccessful day for the Moscow Exchange. The MOEX Russia Index broke through the lower limits just after the opening on the back of further escalation of the Ukrainian crisis, and the trading was immediately suspended. After the trading resumed, the market finally plummeted to below 1,700 for the first time since January 2016,Ф PSB Bank senior analyst Yegor Zhilnikov said.

At 5:49 a.m. Moscow time, Putin announced the start of a military operation in the Donetsk and Lugansk partially-recognized republics. Ukraine declared an emergency on its territory and closed the flight space for civil aircraft.

Zhilnikov said that all Russian blue chips demonstrated a steep fall with the financial sectors and the energy sectors being the poorest losers, down by 35.87% and 31.82%, respectively. The central bank limited short positions on the market, which returned it to the area of 2,000.

Veles Broker analyst Yelena Kozhukhova said that the global energy market demonstrated a rise of around 6Ц7% due to anticipation of news about fresh anti-Russian sanctions, which can impact energy supplies.

Zhilnikov added that the volatility remains extreme and the geopolitical situation is still acute so a new wave of decline of the Russian stock market is possible on Friday.

Below are the MOEX Russia IndexТs five most active stocks on Thursday:

Company Change, % Last price, rbl Trading volume, bln rbl
Sberbank -46.05 112.5 67.007
Gazprom -33.3 189.1 55.284
Lukoil -33.55 4000 15.615
Norilsk Nickel -16.71 17616 11.947
Yandex -43.53 1781.6 11.625

(80.4194 rubles Ц U.S. $1)


24.02.2022 19:43
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