Russian stock indices down more than 2% as trading on Moscow Exchange closes

MOSCOW, April 29. /TASS/. The MOEX Index fell 2.1% to 2,639.82 points at the end of Wednesday's main trading session, while the dollar-denominated RTS Index dropped 2.35% to 1,110.57 points. The yuan weakened by 6.85 kopecks to 10.9115 rubles. "The MOEX Index is accelerating its decline today. Breaking the 2,690-2,700 points support zone is an extremely negative signal. The next support level is around 2,620. Furthermore, even if the index rebounds to the 2,690-2,700 points range, this level may now act as resistance," said Lyudmila Rokotyanskaya, stock market expert at BCS World of Investments. The top gainers were shares of OGK-2 (+1.26%), Samolet (+0.42%), Mosenergo (+0.76%), and Rosseti Centre and Volga Region (+0.24%). The top losers included M.Video (-5.29%), Polyus (-5.47%), Norilsk Nickel (-4.9%), Alrosa (-4.41%), and UWC (-4.11%). "Since the key rate decision was announced, the MOEX Index has already shed nearly 5%. The benchmark currently stands at 2,647.88 points. The oil sector is also showing negative dynamics despite June crude futures rising above $117 per barrel," noted Andrey Alekseev, Senior Portfolio Manager at Pervaya Asset Management. BCS World of Investments forecasts the ruble-dollar exchange rate at 74.68-76.14 rubles and the yuan at 10.89-11.15 rubles. Alexander Dudnikov, an analyst at Tsifra Broker, believes that in the coming days, exchange rates could consolidate in the range of 10.9-11.3 rubles per yuan, 74-77 rubles per dollar, and 87-91 rubles per euro.