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MOEX Edges Back to 2,495 After Sharp Slide, Still Below 2,500

Analysts see volatility persisting below 2,500, with geopolitics alongside policy risk pressuring sentiment.

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Overview

  • On October 28, the MOEX Index rose 0.74% to 2,495.09, while the RTS slipped 0.31% to 984.76 and the yuan ticked up to roughly 11.17 rubles.
  • A day earlier, the MOEX closed down 2.64% at 2,476.79 after briefly breaching 2,500 for the first time this year at an intraday low of 2,499.22, with the RTS at 987.84.
  • Market commentary linked the pressure to new EU and US sanctions, shifting expectations for the key rate, a stronger ruble, and weaker commodity prices including oil.
  • Trading showed wide dispersion on October 27 as Bashneft (+1.84%), MKB (+0.48%), and MTS (+0.12%) gained, while Mechel (-5.56%), Rostelecom (-5.43%), Tatneft (-5.39%), Nornickel (-5.12%), and Lukoil (-4.77%) fell.
  • Near-term outlooks point to choppy ranges, with BCS guiding for roughly 2,450–2,575 and Freedom Finance Global for 2,450–2,550 alongside currency forecasts for the dollar, euro, and yuan.