The RTS index finished the day up 9.4% on the back of growth in the ruble and oil

The RTS index finished the day up 9.4% on the back of growth in the ruble and oil

MOSCOW, January 22. The stock indices of the Russian Federation ended the trading session higher. So, rouble-denominated MICEX index (MICEX) on the Moscow stock exchange rose by 2.43 per cent to 1717,98 points, and the RTS jumped at 9.38% to 691,4 item.

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On the chart of the MICEX index goes bearish trend in the 1705-1710 area points and after breaking up the index to rise to the area of 1750 -1760 points, says the analyst “Zerich capital Management” Elena Shishkina. According to her, it all depends on oil prices. “Oil rose by 7% if the rally in oil continues, why not 1750 points?”, – the expert believes.

Accelerated growth of the dollar-denominated RTS index was due to a “rally” of the ruble. The dollar fell 4.71 rubles on the closing of yesterday’s trading to reach 77,92 rubles, and Euro fell by 84,24 of 5.75 rubles to rubles.

To yesterday’s highs, the dollar has dropped 8.07 RUB and Euro – RUB of 9.46

The growth of the ruble, in turn, comes amid a sharp rebound in oil prices up. So, today, the cost of futures for oil of mark Brent with delivery in March 2016 on the ICE stock exchange in London rose by 8.4% to $31.7 per barrel.

On the background of the depression on foreign exchanges, which recently have been quite responsive to the fall in commodity quotations, the domestic market, of course judging by the MICEX index moved to a faster growth, says expert “BCS Express” Konstantin Karpov.

“Thus, judging by today’s data, foreign funds continued to withdraw money from Russian stocks, and the growth was driven by internal forces,” draws the attention of the analyst.