Russian stocks finished the trading day in positive territory on Wednesday, with the MOEX Russia Index gaining 1.52% at the close in Moscow. Broad-based improvements were concentrated in Mining, Oil & Gas and Power sectors, which provided upward momentum for the market.
Among individual contributors, OZON (MCX:OZON) led the session’s winners, advancing 4.22% - an increase of 186.00 points - to finish at 4,596.00. MMC NORILSK NICKEL PJSC (MCX:GMKN) added 3.71%, or 5.80 points, closing at 161.70. Magnitogorskiy Metallurgicheskiy Kombinat PAO (MCX:MAGN) also posted solid gains, rising 3.60% - up 1.11 points - to 31.91 in late trade.
On the downside, VK Company Ltd (MCX:VKCO) was the session’s largest laggard, slipping 1.51% or 4.90 points to close at 319.00. Surgutneftegas PJSC Pref (MCX:SNGS_p) declined 0.51%, or 0.22 points, to end the session at 43.11. Shares of Magnit PJSC (MCX:MGNT) eased 0.25%, down 8.00 points to 3,163.00.
Market breadth favored advancing issues, with 152 stocks finishing higher versus 86 that fell; 14 names were unchanged on the Moscow Stock Exchange.
The Russian Volatility Index - RVI, which measures the implied volatility of MOEX Russia Index options, moved lower by 0.18% to 28.21.
Commodity markets showed notable moves alongside the equity rise. Gold Futures for April delivery increased 1.69% - up 85.11 - to $5,116.11 a troy ounce. In crude markets, the March delivery contract climbed 1.67% or $1.07 to $65.03 a barrel, while the April Brent contract rose 1.42% or $0.98 to trade at $69.78 a barrel.
Foreign exchange rates reflected modest ruble strength. The USD/RUB rate fell 0.19% to 77.10, and EUR/RUB decreased 0.36% to 91.55. Separately, US Dollar Index Futures ticked up 0.13% to 96.80.
Market context summary - Wednesday’s session was characterized by gains in resource-linked and power-related stocks that helped lift the MOEX Russia Index by 1.52%. Commodity prices and currency movements accompanied the equity advance, while implied volatility as measured by the RVI eased slightly.