Russian stocks to choose further direction amid global uncertainty

MOSCOW, Apr 10 (PRIME) -- Tuesday is expected to become a crucial day determining the prospects of the Russian stock market amid global geopolitical uncertainty, analysts said.

“It is currently unclear whether sales on the Russian stock market will continue. ‘Yes, of course,’ the fundamental background says while the technical background allows the MOEX Russia Index to consolidate within a 2,010–2,100 range awaiting new information,” Alpari senior analyst Anna Bodrova said.

From the historical point of view, investors may buy up to 50% of the previous loss if no new negative data appears, she said. The market is now dealing with bare emotions lacking understanding of the horizons.

Bodrova expects the Russian market to open with growth attempts accompanied by high volatility and is sure that Tuesday’s trading session will be crucial in prospect terms.

Olma senior analyst Anton Startsev said that volatility will remain high in the next few days due to rising geopolitical uncertainty. The RTS index may bounce back at opening, but is likely to continue falling later in the day.

Forex Club analyst Ivan Marchena said that the Russian stock market may be supported by strengthening oil prices. The Brent crude price has reached U.S. $69 per dollar.

Investors may also follow publication of operating results of uncut diamond mining giant ALROSA for March and real estate developer LSR Group for January–March among other corporate events.

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