OREANDA-NEWS. After mild correction last Friday, the PFTS Index lost another 2.12% on October 22 to close at 1,133 points, Alfa Bank's information department informs. Growing global risk pushed investors toward more cautious investment strategies with growing inflation redirecting fund flows to less risky assets than stocks. The most speculative stock - Ukrnafta (-1.5%) - followed the drop in oil prices as well as the uncertainty of the political situation in the country. GenCos depreciated in tandem on profit taking by investors, with Dniproenergo (-0.8%), Centrenergo (-2.9%), Zakhidenergo (-2.3%), and Donbasenergo (-2.6%) all ending the day in the red. Steel stocks also slide on profit taking despite strong fundamentals for the industry, i.e. Alchevsky Metals Plant (-3.1%), Enakievo Metals Plant (-0.5%), and Poltavsky GOK (-2.2%). In the engineering sector, the most speculative stocks of the month appear to be Mariupol Heavy Machinery Plant (-5.6%) and UkrAVTO (-4.2%).

"With the rebound on Asian and US markets triggered by technological stocks, we expect a slowdown in the PFTS's correction. However, as the technology sector is represented by Ukrtelecom, we do not expect to see the global rebound have a strong influence on the domestic market," the analysts foretell.