Mosbirzhi index dropped below 3100 points on the news about the owner of Rusagro
Moscow Exchange Index (MoEx: MoEx) For the first time in a month and a half, he rolled down below the level of 3100 points. And only in the last two he lost almost 2%. The play for the decrease was activated against the backdrop of the arrest of the head of the company « Rusagro » Vadim Moshkovich. At the same time, the company’s shares turned out to be the leaders of the last two days to reduce quotes and in the volume of trading. However, the general economic background, taking into account the acceleration of inflation, also does not please investors. In addition, they do not see progress in resolving the Ukrainian conflict, which leads to the sale of securities.
On March 27, the Moscow Exchange index was the first in a month and a half dropped below the level of 3100 points. During the main session, he reached 3076.04 points, a minimum from February 13, and closed at the mark of 3083.99 points, losing almost 2%per day. In two weeks, the index lost more than 5%, and the play to lower intensified in the last two days.
The reason for the « bear » mood was the detention and the arrest of the founder and beneficiary of the company « Rusagro » followed by him Vadim Moshkovich. The company’s shares have been in the lead leaders in the last two days. On March 26, at the main session, they lost 19.5%in price, and the next day – another 9%, dwelling at the mark of 166.1 rubles. These days, they became leaders in terms of bidding (a total of more than 32 billion rubles), overtaking such “blue chips” as Gazprom, Sberbank and T-Technologies. At the same time, as explained in the “finam”, the Rusagro shares are not included in the Moscow Exchange index, but such events always frighten investors. At the same time, the most liquid shares lost 2–5%in the price of these days.
However, the general situation of the Russian market remains moderately negative.
In particular, according to the analyst of the investment company “Tsel Broker” Kirill Klimentiev, the Moscow Exchange index demonstrates a decrease against the backdrop of uncertainty in geopolitics. “In the context of protracted negotiations (between Russia and the USA regarding the military conflict in Ukraine. « Kommersant ») and the lack of clarity for further actions, market participants prefer to record profits and reduce positions, which leads to the subsidence of the index, ”he notes. Natalia Malykh, head of the FG FG shares, also associates sales in promotions with the lack of “significant progress in the Ukrainian conflict and in the issue of weakening sanctions”. Sberbank noted that the expectations of the market of relatively rapid progress in negotiations could not be justified. As a result, this led to a decrease in demand at the auctions of the Ministry of Finance, an increase in the profitability of OFZ and a decrease in shares assessment. So, on the eve of the state -owned bonds of less than 30 billion rubles were placed, the minimum volume over the past two months. At the same time, the demand of investors (63.7 billion rubles) also turned out to be minimal for this period.
In addition, macroeconomic data also exerted pressure on the stock market. According to the Executive Director – Slose Analysis of the Sberbank Stock Market Analysis Department, Andrei Krylov, the pressure on the Moscow Exchange index exerts a strong ruble exchange rate. “In the database of the calculation of the index, 62% falls on export-oriented companies whose profit is reduced” due to strengthening the Russian currency, he notes. According to the expert, “the ruble is now overestimated,” and the equilibrium level of the dollar rate is about 93 rubles/$. At the same time, the Office of the dollar since the beginning of March has not risen above 91 rubles/$, and in the last two weeks it was around 84 rubles./$.
In addition, Alexander Shepelev noted the BCS World Investment Stock Market, the Rosstat data that had published on the eve of the resumption of weekly inflation was negatively affected by investors.
So, the growth of consumer prices from March 18 to March 24 amounted to 0.12%, while a week earlier was 0.06%. For the incomplete three months of 2025, prices rose by 2.4%already, and in annual terms, inflation reached 10.47%.
Kirill Klimentyev states that the main pressure on the market is expected – « bidders react to the lack of specific steps in politics and economics, which forces them to occupy a more cautious position. » Natalia small does not exclude that in the near future the IMOEX index will close the gap of February 13 (after the first negotiations of Vladimir Putin and Donald Trump), adjusting to 3000-3050 points.
