Russia's equity market ended Tuesday's session in negative territory, with sector-wide declines in Mining, Power and Oil & Gas contributing to the drop. The MOEX Russia Index closed down 1.27%, finishing at a new three-month low.
Market movers
Among the best performers on the MOEX Russia Index were Surgutneftegas PJSC Pref (MCX:SNGS_p), which rose 0.34% or 0.15 points to finish at 42.87, and PIK SHb PJSC (MCX:PIKK), which added 0.11% or 0.60 points to close at 535.50. GDR ROS AGRO PLC ORD SHS (MCX:AGRODR) ended the session unchanged - 0.00% or 0.00 points - at 1,083.80 in late trade.
The heaviest declines were concentrated in several large-cap names. Magnit PJSC (MCX:MGNT) dropped 5.12% or 138.50 points to close at 2,565.50, Polyus PJSC (MCX:PLZL) fell 3.88% or 87.40 points to 2,163.60, and ROSSETI PJSC (MCX:FEES) was 3.70% or 0.00 points to 0.07.
Breadth on the Moscow exchange was decisively negative: falling issues outnumbered advancers by 227 to 21, while 3 stocks finished unchanged.
Notable price milestones
Shares of Magnit PJSC (MCX:MGNT) moved to five-year lows as they fell 5.12% or 138.50 points to 2,565.50. GDR ROS AGRO PLC ORD SHS (MCX:AGRODR) was unchanged at 1,083.80, a level identified in the session as a 52-week low.
Volatility and related markets
The Russian Volatility Index - RVI, which tracks implied volatility in options on the MOEX Russia Index, eased 0.18% to 22.67.
Commodities showed mixed moves at the close. Gold futures for June delivery fell 1.80% or 84.35 to $4,609.35 a troy ounce. Crude oil for June delivery rose 3.37% or 3.25 to $99.62 a barrel, while the July Brent contract slipped 0.01% or 0.01 to $104.25 a barrel.
In currency trading, USD/RUB was unchanged at 75.16 and EUR/RUB was unchanged at 88.04. The US Dollar Index Futures was up 0.16% at 98.48.
Takeaway
The session closed with broad selling pressure that pushed the MOEX Russia Index to a three-month low, led by losses in resource and power-related sectors. A small group of stocks bucked the trend with modest gains or flat performances, while volatility as measured by the RVI inched lower.