The Moscow Stock Exchange Index may reach 3180 points next week. Such an estimate was given to socialbites.ca by BCS Mir Investments stockbroker Dmitry Babin, who commented on the Moscow Stock Exchange index falling to 3132.07 points at Friday’s auction.
“The Russian stock market, which had a positive opening in the external environment, sank due to the strengthening of the ruble. The ruble strengthened at the start of the trade, then rapidly depreciated, updating its daily minimum. However, the downside did not develop: At the beginning of the main session, the price of the ruble rose and reached a moderate plus. “After the oil prices rose after the drop, our stock indicators started to return to their losing positions,” he said.
According to Babin, the end of the workweek remains a limiting factor for the Russian stock index, with many people avoiding buying or selling securities over the weekend for fear of any risk materializing.
“If these fears are not justified and the external environment is at least neutral on Monday, the Moscow Stock Exchange index will most likely continue to recover towards the nearest target in the 3180 point region,” the expert summarized.
As of closing on Thursday, the Moscow Exchange’s ruble index fell 0.28% to 3,137.37 points, while the dollar RTS index fell 0.73% to 1,043.51 points. According to data at 14:44 Moscow time on Friday, the Moscow Stock Exchange index reached 3,157.28 points, the dollar RTS – 1050.9 points.
before in Russia guess Exchange rates for the next week.