Page 17 - RusRPTNov21

2.3 Russia’s RTS stock index breaks above 1,800 for first time in a decade
Russia’s dollar-denominated Russia Trading System (RTS) index broke above the 1,800 mark for the first time in over a decade on October 7 to end the day at 1,854.
Russia’s stock market has been enjoying a rally this year that has seen the overall market up by around a quarter. Banking stocks have been the preferred investment, used by investors as a proxy for exposure to the general economic recovery, which were up some 60% YTD as of last week.
The rally on the RTS comes in parallel with a general enthusiasm for Russian companies that has led to an IPO boom, as bne IntelliNews has recently reported. Russia has seen almost a dozen companies list in the last year, mostly from the tech and retail sectors, raising billions of dollars in the process. International portfolio investors are overweight Russian stocks at the moment, not because they have been buying the traditional blue chips, but because they have loaded up on all these debutants.
17 RUSSIA Country Report November 2021 www.intellinews.com