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Russian stock market will continue to grow in January

Five companies in the Moscow Exchange index account for 55.05%: Sberbank (14.25%), Gazprom (13.72%), Lukoil (11.06%), Yandex (8, 12%), Norilsk Nickel (7.9%). A correction phase is expected for Sberbank and Yandex for the next five days. This can be either a decline in stock prices or a sideways movement in a limited price range, so that some market participants can take profits on long positions, while others can buy them in addition on a calm market. Against the backdrop of the oil rally in Gazprom and Lukoil, prices are expected to continue to rise. Some papers offset the fall of others. Given that the Moscow Exchange index is ruble, then with the growing oil prices and the strengthening of the ruble, we should expect a renewal of the maximum in the coming days. The rally in oil continued on expectations of falling stocks in the US, tighter supply, as well as a weakening of the US dollar in the global currency market. Brent is expecting growth to $ 60 per barrel. The ruble is doing very well with rising oil as well. The dollar / ruble pair is expected to decline to the zone of 70-72 rubles. for one dollar. Taking into account all expectations, two target levels can be distinguished according to the Moscow Exchange index – 3645 and 3823 points. It is also to watch the dynamics of the SP500 index. There is a close relationship between the Russian and American indices. The SP500 correction will limit the growth of the Moscow Exchange index. _____________________ Vladislav Antonov, Analyst, IAC “Alpari”

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