Russia Stocks Rise 1.12%, OZONDR Leads Gains Amid Mixed Market

Russia's stock market closed higher on Thursday, with the MOEX Russia Index rising 1.12%. The mining, oil & gas, and telecom sectors led the gains. ADS Ozon Holdings PLC ORD SHS, Moskovskiy Kreditnyi Bank PAO, and Magnit PJSC were among the top performers, while VK Company Ltd, ROSSETI PJSC, and PhosAgro PJSC declined. The Russian Volatility Index and gold futures also rose.

The Russian stock market closed higher on Thursday, with the MOEX Russia Index rising 1.12% [1]. This upward trend was driven by strong performances in the Mining, Oil & Gas, and Telecoms sectors.

One of the top performers of the day was ADS Ozon Holdings PLC ORD SHS (MCX:OZONDR), which experienced a significant gain of 3.31% or 99.50 points, closing at 3,101.50 [1]. This e-commerce giant's growth is not surprising, as online shopping has seen a surge in popularity during the pandemic.

Another notable gainer was Moskovskiy Kreditnyi Bank PAO (MCX:CBOM), which added 3.08% or 0.30 points to end the day at 10.07. This financial institution's growth is a positive sign for the Russian economy, as a healthy banking sector is essential for economic growth.

Magnit PJSC (MCX:MGNT) also performed well, with a gain of 2.99% or 150.50 points, closing at 5,178.00 in late trade. This retailer's growth is another indication of the Russian economy's resilience.

On the other hand, some stocks experienced declines. VK Company Ltd (MCX:VKCO) fell 3.10% or 9.20 points to trade at 288.00 at the close. ROSSETI PJSC (MCX:FEES) remained unchanged, while PhosAgro PJSC (MCX:PHOR) experienced a decline of 1.70% or 108.00 points, closing at 6,260.00 [1].

The Russian Volatility Index – RVI, which measures the implied volatility of MOEX Russia Index options, rose 10.19% to 39.67 [1]. This increase in volatility indicates that investors are becoming more uncertain about the future direction of the Russian stock market.

Gold futures for February delivery also rose by 0.70% or 18.32 to $2,653.82 a troy ounce [1]. This increase in gold prices is a result of investors seeking safe-haven assets amidst global economic uncertainty.

In summary, the Russian stock market closed higher on Thursday, with the Mining, Oil & Gas, and Telecoms sectors leading the way. While some stocks experienced declines, the overall trend was positive. However, investors should be aware of the increased volatility in the market and the potential risks associated with investing in the Russian economy.

References:
[1] Investing.com. (2023, February 23). Russia stocks higher at close of trade: MOEX Russia Index up 1.12%. https://www.investing.com/news/stock-market-news/russia-stocks-higher-at-close-of-trade-moex-russia-index-up-112-3789322