Russian stocks ended Wednesday's session under pressure, with the MOEX Russia Index falling 2.68% to reach a new three-year low at the close in Moscow. Sectors exposed to Mining, Oil & Gas and Power were the primary drags on the benchmark.
Top movers
The session's strongest performers on the MOEX Russia Index included Mobil’nye Telesistemy PJSC (MCX:MTSS), which climbed 2.92% or 4.85 points to finish at 171.20. Moskovskiy Kreditnyi Bank PAO (MCX:CBOM) added 0.69% or 0.05 points to close at 7.71, while Surgutneftegas PJSC Pref (MCX:SNGS_p) was marginally higher by 0.01% or 0.01 points, ending the day at 37.31.
Biggest decliners
On the downside, VK Company Ltd (MCX:VKCO) fell 10.35% or 16.20 points to close at 140.25. AK ALROSA PJSC (MCX:ALRS) declined 6.55% or 1.16 points to 16.56, and AFK Sistema PJSC (MCX:AFKS) lost 6.37% or 0.60 points to end the session at 8.81.
Across the Moscow Stock Exchange, decliners outnumbered advancers by a wide margin - 222 to 26 - while 5 stocks finished unchanged.
New lows recorded
Several listed companies hit fresh lows during the session. Shares of VK Company Ltd (MCX:VKCO) dropped to all-time lows, falling 10.35% or 16.20 to 140.25. AK ALROSA PJSC (MCX:ALRS) also declined to all-time lows, losing 6.55% or 1.16 to 16.56. AFK Sistema PJSC (MCX:AFKS) reached five-year lows, down 6.37% or 0.60 to 8.81.
Volatility and markets
The Russian Volatility Index - RVI, which reflects implied volatility on options for the MOEX Russia Index, rose 5.80% to 47.07, marking a new 52-week high.
In commodities trading, Gold Futures for August delivery were down 0.07% or 2.65 to $4,067.05 a troy ounce. Crude oil for August delivery rose 1.13% or 0.90 to $80.24 a barrel, while the September Brent contract fell 0.35% or 0.30 to $85.32 a barrel.
On currency pairs, USD/RUB was unchanged at 77.50 and EUR/RUB was unchanged at 88.83. The US Dollar Index Futures declined 0.35% to 100.36.
This session illustrated a broad-based pullback across Russian equities, concentrated in commodity-linked and power-related names, accompanied by a rise in implied volatility and mixed moves in commodity and FX markets.