Russian equities ended the session in positive territory on Friday, led by advances in the Telecoms, Power and Oil & Gas sectors. At the close in Moscow, the MOEX Russia Index rose 0.42%.
Among individual movers, AFK Sistema PJSC (MCX:AFKS) posted the largest increase on the index, finishing up 4.51% - a 0.60 point gain to 13.80. Bank VTB PJSC (MCX:VTBR) followed with a 4.28% rise, adding 3.60 points to close at 87.56. Metals producer Magnitogorskiy Metallurgicheskiy Kombinat PAO (MCX:MAGN) also climbed, gaining 3.58% or 1.14 points to finish at 32.88.
Not all names participated in the rally. MMC NORILSK NICKEL PJSC (MCX:GMKN) was the session's heaviest decliner, slipping 2.10% or 3.30 points to close at 154.90. Gold miner Polyus PJSC (MCX:PLZL) fell 1.55%, a 40.00 point drop to 2,533.20, while fertilizer producer PhosAgro PJSC (MCX:PHOR) eased 0.40%, down 26.00 points to 6,395.00.
Market breadth on the Moscow Stock Exchange showed a clear bias toward rising names: 177 stocks advanced, 67 declined and 9 finished unchanged.
Volatility declined sharply over the session. The Russian Volatility Index - RVI, which measures implied volatility for MOEX Russia Index options, fell 41.37% to 14.61, marking a new 52-week low for the gauge.
Commodity markets were mixed. Gold Futures for April delivery climbed 2.15% or 106.50 to trade at $5,054.90 a troy ounce. In crude oil markets, the March contract slipped 0.05% or $0.03 to $62.81 a barrel, while the April Brent contract gained 0.19% or $0.13 to $67.65 a barrel.
Currency moves showed some RUB strength versus major peers. USD/RUB fell 0.74% to 76.65, and EUR/RUB declined 0.68% to 91.03. Meanwhile, the US Dollar Index Futures was down 0.11% at 96.74.
Clear summary
The MOEX Russia Index closed up 0.42% on Friday, driven by gains in Telecoms, Power and Oil & Gas. Breadth was positive with 177 advancers versus 67 decliners. The RVI plunged to a 52-week low at 14.61. Gold moved strongly higher, Brent and WTI showed small mixed moves, and the ruble strengthened against the dollar and euro.
Key points
- MOEX Russia Index finished 0.42% higher, led by sector gains in Telecoms, Power and Oil & Gas - these sectors impacted equity performance across the exchange.
- Top daily performers included AFK Sistema (MCX:AFKS), Bank VTB (MCX:VTBR) and MAGN, while GMKN, PLZL and PHOR were the biggest decliners - highlighting divergent stock-level moves within materials and financials.
- Implied volatility for the market dropped substantially, with the RVI down 41.37% to a 52-week low, a development relevant for options traders and risk managers.
Risks and uncertainties
- Volatility shifted sharply lower, but a rapid decline in the RVI may reflect softer near-term demand for index options - an uncertainty for derivatives desks and volatility-sensitive strategies.
- Commodity price moves were mixed: gold rose strongly while crude oil showed only small changes, creating uncertainty for commodity-linked sectors such as mining, oil & gas and fertilizers.
- Currency fluctuations - the ruble strengthened against the dollar and euro - introduce exchange-rate exposure for exporters and importers; FX moves can affect corporate reporting and sector profitability.