MOSCOW, July 20. /TASS/. The benchmark MOEX Russia Index climbed 2.16% to finish Monday's main trading session at 2,000.83 points, while the dollar-denominated RTS Index rose 2.27% to 804.77 points. The Chinese yuan edged up by 7 kopecks to 11.64 rubles.
"The MOEX Index briefly dipped below 1,900 points at Monday's open before staging a quick rebound, with investors shifting to active buying later in the day. The morning downward gap was purely technical, triggered by dividend ex-dates for Sberbank, VTB, and several other equities. However, today’s broad-market recovery could also be technical, driven by extreme oversold conditions," said Andrey Smirnov, a stock market expert at BCS World of Investments.
Meanwhile, Transneft preferred shares spearheaded the decliners, plunging 14% as the stock went ex-dividend following the closure of its shareholder register.
BCS World of Investments expects the MOEX Index to trade between 1,900 and 2,050 points on Tuesday. It forecasts the US dollar to trade at 77-79 rubles and the yuan at 11.4-11.7 rubles.
Freedom Global projects the MOEX Index to move within a 1,950-2,050 range on Tuesday, with exchange rates for the dollar, euro, and yuan seen at 77-79 rubles, 88-90 rubles, and 11.4-11.9 rubles, respectively.
