The Russian stock market grew by 6% amid the Central Bank’s decision to maintain rates

The Russian stock market reacted positively to the decision of the Central Bank of Russia not to increase the previously established 21% interest rate. The decision to keep the interest rate at the same level at the Central Bank is explained by a more significant tightening of monetary conditions in Russia than expected due to the October increase. The regulator noted that the current price increase “will remain high” but predicted a decline in inflationary pressure in the coming months.

Shares of listed companies also show positive dynamics. The growth leaders of the day were the shares of PIK (+14.39% to 424 rubles), AFK Sistema (+12.9% to 13.7 rubles), VK (+11.27% to 276 rubles), Aeroflot “(+9.2% to 54.7 rubles).), “Yandex” (+7.52% to 3,596 rubles) and MKB (+12.57% to 9.45 rubles).

Previously, the securities of the gold mining company Polyus, the price of which had increased against the background of the worsening international situation, showed a less optimistic growth of 1.48% and are now trading at 13.52 thousand rubles.

“It is definitely not worth rushing to buy shares of companies with high debt loads. We give preference to index funds,” Stanislav Kleshchev, investment strategist at the VTB My Investments brokerage, told RBC. According to the expert, it is much more important for the market to start a rate reduction cycle than to simply stop its growth.

Analysts surveyed by RBC believe that dividend payments will remain the main driver of the market in the near future: the return of the Russian market according to this indicator could be around 10.7%.