The Russian stock market is recovering, oil is waiting for statistics

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The Russian stock market on Wednesday and edged. Indexes are pulling for the paper companies, the”heavyweights”. Among today’s exchange favorites “Sberbank”, “LUKOIL”, “Gazprom Neft”, “rosseti”. States not yet considered the issue of tougher package of anti-Russian sanctions, and domestic investors saw this as positive. Frankly, the reason for the massive purchases more than questionable, but, given yesterday’s oversold, the market is, what to do in terms of stabilization.
The index is back above Mosberg 2340 items – interim level of support. The immediate resistance for the rouble indicator is the level of 2350 points above – at the level of 2375 points. In order to return there, only one pause in the sequence of sectional tightening it enough. The session on Thursday will begin for index Mosberg within 2325-2350 points, RTS index – in a corridor 1120-1130 points.
The oil sector is constantly changing the direction of movement today. Here there is a sufficient amount of catalyst for the bears, which has yet to be fully taken into account in the prices. If today’s statistics from the US Department of energy confirms the growth of stocks of crude oil, was emerging equilibrium in prices will again be broken, and the sellers will return to its activities.
The ruble is completely ignored in the sale of oil, but now that prices have stopped falling, began to grow in tandem with the U.S. dollar. Some moral support he rendered the results of today’s auction the Ministry of Finance on placement of OFZ, although there is a little something it is possible to seriously enjoy. It was suggested that two issues, both at 10 billion rubles. The first of them, 26223, investors bought almost without hesitation. Second edition, 26225, fully to sell did not work – the Ministry of Finance sold bonds only by 4.1 billion rubles, with demand at 9.5 billion rubles. is Quite questionable results, which is understandable, given external background.
The impression is that fans of the ruble are just not ready for alternative movements, and while negative for the domestic currency only accumulated, very few people is engaged in purchase of dollar at the lows. A little later, the picture will change. Meanwhile, the greenback closes the day in the range of 65.40-65,60 RUB, interesting nearest resistance is at the level 66,45 EUR RUB finish today in the 74,65-of 75.25 RUB.
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Anna Bodrova,
Senior analyst,
Alpari