Stock Markets April 4, 2026

MOEX Russia Index Flat as Major Russian Stocks Finish Mixed

Banking and metals names led winners while select energy and utility names slipped; volatility and commodity moves notable

By Jordan Park HYDR
MOEX Russia Index Flat as Major Russian Stocks Finish Mixed
HYDR

Russian equities closed lower overall on Saturday with the MOEX Russia Index finishing unchanged at a new one-month low. Select bank and metals names paced gains, while some energy and utility stocks recorded declines. Volume of advancing issues exceeded decliners, and market indicators included a 52-week low in the Russian Volatility Index and mixed commodity and FX moves.

Key Points

  • MOEX Russia Index closed unchanged (0.00%) and recorded a new 1-month low - equity benchmark movement affects broad market sentiment.
  • Top gainers included Bank VTB PJSC (VTBR), Moskovskiy Kreditnyi Bank PAO (CBOM) and OK Rusal MKPAO (RUAL); laggards included TATNEFT Pref (TATN_p), RusHydro (HYDR) and Gazprom (GAZP) - banking, metals, energy and utilities sectors were directly impacted.
  • The Russian Volatility Index (RVI) was unchanged at 20.70, a new 52-week low, while commodities and FX showed mixed moves - gold and crude advanced and RUB strengthened modestly versus the dollar and euro.

Russian equities ended the trading session on Saturday with a mixed profile as the MOEX Russia Index closed unchanged - 0.00% - and registered a fresh one-month low.

Among individual names, Bank VTB PJSC (MCX:VTBR) was the session's top mover on the index, rising 0.92% or 0.85 points to finish at 92.51. Moskovskiy Kreditnyi Bank PAO (MCX:CBOM) added 0.90% or 0.05 points to close at 5.47, and OK Rusal MKPAO (MCX:RUAL) gained 0.77% or 0.32 points to end the day at 42.72.

On the downside, TATNEFT n.a. V.D. Shashin Pref (MCX:TATN_p) declined 0.31% or 1.80 points to settle at 586.70. Federal Hydro Generating Company RusHydro PJSC (MCX:HYDR) was effectively unchanged - listed as 0.23% or 0.00 points - and closed at 0.44. Gazprom PJSC (MCX:GAZP) slipped 0.17% or 0.22 points to 132.80.

Advancers outnumbered decliners on the Moscow Stock Exchange, with 135 stocks rising versus 83 falling, and 24 securities finishing unchanged.


Market breadth was accompanied by subdued implied volatility. The Russian Volatility Index - RVI, which reflects the implied volatility of options on the MOEX Russia Index, was unchanged - 0.00% - and stood at 20.70, marking a new 52-week low.

Commodities traded with mixed results. Gold Futures for June delivery rose 0.49% or 23.00 to $4,702.70 a troy ounce. In energy markets, crude oil for May delivery increased 0.47% or 0.52 to $112.06 a barrel, while the June Brent contract moved up 7.78% or 7.87 to $109.03 a barrel.

Foreign exchange rates showed modest moves: USD/RUB declined 0.24% to 80.01, and EUR/RUB fell 0.42% to 92.15. The US Dollar Index Futures was up 0.13% at 99.99.


Summary of session specifics - the index itself finished unchanged at a one-month low; several large-cap banks and a major metals producer were among the best performers; certain energy and hydro-generation names were among the laggards. Advancers exceeded decliners by a margin of 135 to 83, with 24 unchanged issues. The RVI recorded a 52-week low even as gold and oil prices rose.

Risks

  • The MOEX Russia Index closing at a new 1-month low highlights the risk of continued near-term weakness in Russian equities - this affects broad market participants and sector-specific investors.
  • A 52-week low in the Russian Volatility Index (RVI) signals compressed implied volatility; sudden market moves could generate rapid repricing for option positions and leveraged strategies.
  • Movements in commodity prices and FX rates, including rises in gold and crude and modest RUB appreciation versus USD and EUR, create uncertainty for energy producers, exporters and import-dependent sectors.

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