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We expect negative sentiment on the Russian market to continue

Despite the sharp decline at the start of trading, he quickly recovered his losses, trading in positive territory. However, after the news about the imposition of new sanctions by the US and the UK, the index began to decline due to the sale of securities in the financial sector, ending the day with a fall of 1.9%. The outsiders were the shares of Sberbank (MCX:) (AO: -8.1%, AP: -6.4%) due to the new sanctions package of Western countries. This factor also affected other securities of the sector (VTB (MCX:): -4.9%; Moscow Exchange: -1.5%; TCS Group (MCX:): -2.8%), as a result of which they all ended up in “red zone”.

Other key segments of the Russian stock market were also under pressure, but the movement of shares was mixed. In the mining and metallurgy sector, VSMPO-Avisma (MCX:) (-4.2%), Petropavlovsk (-3.4%) and Severstal (MCX:) (-2.9%) fell the most, while shares of Norilsk Nickel (MCX:) (+0.8%) and ALROSA (MCX:) (+0.8%) managed to grow.

In the oil and gas sector, only securities of Gazprom Neft (MCX:) (+4.2%), other shares of the sector (LUKOIL (MCX:): -0.9%; Gazprom (MCX:): -1.6%) were in demand; Rosneft (MCX:): -3.3%) finished the day in the red due to the correction in oil prices and the strengthening of the ruble.

The growth leaders were FESCO (MCX:) (+13.4%), which updated their maximum, as well as chemical industry shares (Akron (MCX:): +13.3%, PhosAgro (MCX:): +7.3%), which were corrected 3 days in a row.

We expect that the negative sentiment on the Russian market will continue, and amid the absence of supporting factors, the Russian stock market will continue to decline. Our target level is 2550 points.

About author

Oxford graduate with honors. He worked in large financial projects for well-known Wall Street corporations. After he earned his first capital and a reputation as a successful trader, he opened his own company. At the moment, the growth of the company's capital is 20% per year.
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