Page 106 - RusRPTJun21

8.3 Stock market
8.3.1 Equity market dynamics
The RTS continues to perform well and was up 12% as of the end of May as well as passing the 1,600 mark. Almost all the investment was going into the banking sector and almost all of that was going into Sber and Tinkov banks.
Banks are seen as a proxy for exposure to the general economic recovery.
Metals and mining was also catching a bid and out performing the rest of the economy. There was little investor interest in the other sectors which remains more of less flat on the year.
The ruble-traded Moscow Exchange index reached a new all time high
after the index was up nearly 0.7% on May 11 and stood at 3,708 points, breaching the 3,700-poing level for the first time, amid a global rise of oil prices.
Since the beginning of the year, the index has risen over 12%, and in May alone it has been up by 4%. The gains made on Monday mark the second time in less than a week that the Russian stock market has smashed its own record, suggesting that it will achieve a steady growth during the next period.
106 RUSSIA Country Report June 2021 www.intellinews.com