On Wednesday, the Russian stock market was under pressure again, as a factor in the intensification of sales was the deterioration of expectations on geopolitics. The decline was also facilitated by the deterioration of the situation in the energy market, where the nearest futures for Brent crude oil fell by 3.7%. At the same time, during the evening session, the market was able to recoup some of the losses against the background of the publication of statistics on weekly inflation (0.09% versus 0.11% a week earlier), which speaks in favor of further easing of the PREP at the meeting of the regulator in December. As a result, by the end of the evening session, the Moscow Exchange index had lost 1.6%, ending the day just below 2,540 points. At the same time, trading volumes increased slightly, amounting to just over 64 billion rubles at the end of the day, against 46 billion rubles. on Tuesday.
Lukoil shares (-4.6%) were once again one of the trading outsiders, which are under pressure amid difficulties in selling foreign assets. They were accompanied by the securities of VUSH Holding and DVMP, which lost 5% and 4.6%. Among the chips, we also note the decline in Gazprom shares (-2%) under the influence of the geopolitical factor. Sberbank's securities, although down 0.7%, ended the day better than the market due to the publication of good reports, which restrained sales. Based on the report of the credit institution, we confirm the estimate of the target price of Sberbank's ordinary shares for the next 12 months. at the level of 383 rubles . Solers and Softline securities finished the day better than the market, adding 4.1% and 3.1%. We also note the rise of Surgutneftegaz ordinary shares (+1%), which showed positive dynamics, despite the pressure under which the rest of the oil and gas sector securities were under.
For today, we maintain our target range of 2,500 – 2,600 points according to the Moscow Exchange index. At the same time, during the session, given the continued pressure from the geopolitical factor, the market will continue to decline. As a result, by the end of the day, the Moscow Exchange index may take another step towards the lower limit of this corridor, which is the closest support for the market.
Bogdan Zvarich, Head of Banking and Financial Market Analysis at PSB.The "Comments" section of the AK&M news agency publishes materials submitted by Russian and foreign investment companies and banks. Their opinions may not coincide with the opinion of the editorial staff of the AK&M agency. The opinions presented in the comments are expressed taking into account the situation at the time of publication of the material. The comments are for informational purposes only; they do not constitute an offer or advice on the purchase or sale of securities. For questions about the placement of information in this section, please contact the agency's editorial office by phone (499) 132-61-30 ext. 0102.
