MOEX Index up 2.82%, RTS Index up by 6.12% as trading on Moscow Exchange closes

TASS Russian News Agency | Sep 22, 2022 at 7:07 PM

MOSCOW, September 22. /TASS/. The Russian stock market bounced back on Thursday amid stabilization of investor sentiments and positive dividend news.

By the end of trading on the Moscow Exchange, the MOEX index grew by 2.82% to 2,190.87 points, the RTS index went up 6.12%, up to 1,174.61 points.

"The assessment of geopolitical risks is gradually losing the emotional component. The main blue chips were in demand on the news of intentions to pay dividends," said Alexander Bakhtin, an investment strategist at BCS World of Investments.

The strengthening of the ruble became a constraining factor for the securities of exporters. At the end of the day, the dollar rate fell by 1.85% to 58.84 rubles, the euro rate dropped by 2.53%, to 57.61 rubles.

The external background was predominantly negative. The Fed, as expected, raised interest rates by 75 bp. etc., up to 3-3.25%. At the same time, the economic forecasts of the regulator's representatives worsened.

By the end of the session, the leaders of growth were preferred and ordinary shares of Mechel (+11.11% and +7.07%), securities of Gazprom (+8.8%), preferred and ordinary shares of Tatneft (+5 .54% and +4.03%), MMK shares (+3.92%) and ordinary shares of Sberbank (+3.43%).

The decline leaders were the shares of Polymetal (-11.17%), Etalon receipts (-2.25%), Polyus shares (-1.61%), En + Group shares (-1.55%) , MTS shares (-1.06%).

According to BCS World of Investments, on September 23, the MOEX index will be formed within the range of 2,120 - 2,250 points, the forecast range for the dollar-ruble pair is 58-61 rubles. Freedom Finance Global's forecast for the MOEX index is 2,055 - 2,240 points, the benchmark for the RTS is a corridor of 1,100 - 1,230 points.