According to the Moscow exchange, MICEX index to closing has decreased on 0,86% – to 1717 points, the RTS index rose 0.57% to 881,19 item in anticipation of Monday morning statistics from China for GDP growth.
MOSCOW, 16 Oct. Elena Likova. The Russian stock market on Friday closed mixed in anticipation of Monday morning statistics from China on GDP, industrial production and retail sales.
The MICEX index to closing has decreased on 0,86% — to 1717 points, the RTS index rose 0.57% to 881,19 points, follows from the data of the Moscow exchange.
The dollar calculations “tomorrow” to 19.54 MSK was down 5 cents to 61.36 ruble, the Euro grew by 3 cents, to 69.85 mm ruble.
“The MICEX index has once again tried to get out of the current range up. However, as of yesterday, sellers have been able to protect its borders. Only this time, the index is already more confident strayed from the mark of 1740 points and has finished day decrease to a level of 1717 points,” — says Aleksey Malikov from “trade-Portal”.
Leaders and outsiders
Among leaders of growth — actions “RusGidro” (6,21%), “inter RAO UES” (3,33%), Moscow exchange (2,83%), TMK (2,48%), NCSP (1,78%), as well as shares of “Pharmstandard” (1,44%), “M. video” (1,39%) and promotions LSR (1,36%).
Among leaders of decrease — actions ALROSA (-3,28%), Magnit (-2,92%), NLMK (and 2.8%), VTB (-2,71%), Raspadskaya (-2,12%), “Rosneft” (-1,94%) and the shares of Norilsk Nickel (-1,86%).
“After the expiry of the oil futures most of the day stayed above 50 dollars per barrel, supported the Russian ruble and Sberbank shares,” says analyst IK “Veles Capital” Alexander Kostyukov.
At the same time, the strengthening of the ruble became a deterrent for exporters, among which on Friday fell more than stocks of chemical companies: Acron (-2,32%), Uralkali (-4,39%), PhosAgro (-1,68%), he adds.
Shares of Uralkali on Friday came under selling pressure on news about them can be excluded from the MSCI Russia index as soon as next week, because, according to official data, after the buy back the company’s free float decreased from 23,35% to 13.9%, says Vasily Oleynik from “Ah Ti invest”.
At the end of the trading session the crude oil gave back some of its position and was again slightly below 50 dollars, that caused the decline of most blue chips, adds Kostyukov.
Forecasts and recommendations
Continuing consolidation of the MICEX index close to the upper boundary of the wide corridor in a previously formed short-term trading range with boundaries 1740-1700 points, says Malikov from “trade-Portal”.
“At this stage we can state the weakness of buyers when you attempt the breakout of 1740 points mark for the second consecutive session. This is a serious Wake-up call for them. If they won’t keep the mark of 1700 points, then the index will go inside the described corridor with the potential to test around 1650 points,” he commented.
When you consider that in the range 1800-1830 points on the MICEX index this year were the largest and the strongest sales for the last five years, it is unlikely that this year the Russian index can close above, says Oleynik of “Ah Ti invest”. In this regard, the maximum potential growth for the Russian stock market from current levels is seen now not more than 5%, he said.