\”Bears\” hold the initiative

on the eve of the decline continued. Most blue chips were again bargaining in a negative territory. The Moscow Exchange index has sank to at least since the end of March. Strength of Severstal (CHMF 996.8, +2.40%) became growth leaders. Worse than the market, in the absence of corporate news, the TKS papers (TCSG 2 438, -9.33%) again looked again, the correction continued on large volumes. The USD/RUB pair was traded in the 78-80 range.

market news and companies

quotes of many blue chips have been located near the end of March. It is better Others are traded by consumer representatives, fertilizer manufacturers, as well as companies producing non -ferrous and precious metals. The outsiders were shares of Sberbank, Lukoil, Yandex, Alrosa and some others. The decline is due to the influence of several factors. Firstly, investors are afraid that after the opening of the market for non-residents from friendly countries, the quotes will pass even more significantly. However, we tend to believe that players will continue to speculatively buy at current levels, since selling Now there is practically no one. As a result, the discharge of shares would cause a strong but short -term fall. Secondly, there is a lack of trade ideas and new liquidity.

in our opinion, the market continues to move in a wide side corridor. The decrease is clearly exhausted, today the quotes are not excluded by 2-3%.

Trade ideas

ALROSA (Alrs), Sberbank (SBER), LUKOIL (LKOH). The technical picture indicates the possibility of a descending trend.

we expect an increase of 3%. Landmark for the couple USD/RUB: range 78-80. Forecast for the Mosbirzhi index: corridor 2300-2350 points.

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