The Moscow Stock Exchange Index is anticipated to move toward the 3180 level in the coming week, based on insights shared with socialbites.ca by Dmitry Babin, a stockbroker with BCS Mir Investments. Babin noted that the index dipped to 3132.07 points during Friday’s session, a figure that caught attention as traders weighed mixed signals from domestic markets and external cues.
He explained that the Russian stock market opened with a touch of strength thanks to a supportive external environment, but it faced selling pressure as the ruble strengthened in the early trading hours. The currency initially firmed, only to retreat sharply, testing its daily lows. While the ruble’s pivot toward weakness didn’t persist, oil prices shown resilience after slipping earlier in the day helped push stock indicators back toward their softer balance. Babin pointed out that oil price dynamics can act as a catalyst for shifts in equities, and in this case the rebound in energy markets contributed to a partial recovery in stock benchmarks as trading progressed.
For Babin, the week’s close looms as a practical barrier for many market participants. He observed that a sizable portion of investors tends to pause over weekends, delaying decisions on buying or selling securities due to the anticipation of any unforeseen risk carrying over into the next session.
Looking ahead, Babin suggested that if the weekend fears prove unfounded and the external environment remains at least neutral on Monday, the Moscow Exchange index is likely to resume its advance toward the nearest objective around the 3180-point region. The assessment reflects a balance between technical levels and the evolving macro backdrop, with traders watching for signs of sustained momentum or fresh catalysts that could steer the index higher.
As of the close on Thursday, the ruble index on the Moscow Exchange declined by 0.28% to 3,137.37 points, while the dollar RTS index slipped by 0.73% to 1,043.51 points. By 14:44 Moscow time on Friday, the Moscow Stock Exchange index stood at 3,157.28 points, with the dollar RTS near 1,050.9 points, signals that traders were consolidating gains and evaluating the next move in a market sensitive to currency swings and commodity prices.
In summary, the forthcoming week appears poised for potential resilience in the Russian market, contingent on a calmer external climate and a lack of negative surprises over the weekend, which often acts as a practical constraint for indices and market sentiment.