The Moscow Stock Exchange index, a key indicator of the Russian stock market, fell to the level of July 2023. Quotes of most blue-chip stocks have declined: experts speak of a lack of liquidity on the market and a shift in investor orientation towards the use of risk-free instruments.
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On Monday, August 19, the Moscow Stock Exchange index fell to the level of July 5, 2023. According to trading data, the key index of the Russian stock market has currently lost 1.45%.
The prices of many blue-chip stocks, the most liquid securities on the market, fell. Shares of developer PIK fell by 3.52%, those of the Moscow Stock Exchange itself by 2.72% and those of the mining company Mechel by 1.85%.
The Russian stock market is experiencing a lack of liquidity amid investors’ tendency to use instruments with a lower level of risk due to the monetary policy of the Bank of Russia, BCS Express expert Mikhail Zeltser noted.
Zeltser added that high interest rates increase the attractiveness of so-called safe haven assets. A drop in the Moscow Stock Exchange index below 2,800 points could trigger a new wave of declines to the level of 2,660 points, the expert believes.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
