You are here: Home » News-CM » International » Market Report
Business Standard

Russia Market fall deeper on geopolitical tension, lower oil prices

Capital Market 

Stock market in Russia slumped on Tuesday, 06 April 2021, on rising geopolitical tensions after NATO raised alarm over Russian military build-up near eastern Ukraine. Meanwhile, Russia said the military movements near the border posed no threat to Ukraine or anyone else and that a serious escalation in the conflict in Ukraine's Donbass region could "destroy" the country.

At closing bell of Main trading session, the 30-stock Micex Index decreased 0.88% to finish at 3,493.89. The market moved in range of 3541.04 - 3484.84. The turnover in main Micex Index was at 90.20 billion Russian Rubles. The RTS Index slumped 2.08% to 1426.86.

Actively traded shares include Rosneft oil, Norilsk Nickel, Lukoil, Sberbank, Gazprom RusHydro, MTS, Tatneft and Surgutneftegas.

The sectoral markets closed mostly lower. Among them, Micex Oil and Gas decreased 1.43% to 8,165.81. The Micex Consumer and Retail index fell 0.98% to 8,954.74. The Micex Metals and Mining Sector Index increased 0.72% to 10,707.75.

Micex Electric utilities index gave up 0.75% to 2,222.83, Micex Financial index fell 1.03% to 11,193.57. Micex Telecoms Index weaken 0.08% to 2,296.06.

Among gainers, ADR Head Hunter Group gained 4.96% to 2,825, Polus increased 3.54% to 14,361.5. Polymetal International step up 2.7% to 1,532.7 while Petropavlovsk added 2.42% to 26.89.

Among losers, VTB tumbled 3.32% to 0.04, while Magnit gave up 2.74% to 5,110.5. Surgut eased 2.7% to 34.9. Sberbank lost 2.52% to 281.5.

In the currency market, the Russian Ruble appreciated on Tuesday. At the close, USD/RUB was quoted at 76.3802 from 76.6052.

On the economic front, the annual inflation rate in Russia rose to 5.8% in March of 2021 from 5.7% in the previous month, well above the central bank's 4% target. It was the highest inflation rate since November 2016, with main upward pressure coming from food that gained 7.6%, non-food products added 5.9% and services rose 3.2%. On a monthly basis, consumer prices went up 0.7%, following a 0.8% gain in February and compare to forecasts of a 0.6% rise.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, April 07 2021. 09:02 IST