OREANDA-NEWS. On 21 January 2009 was announced, that for the week of January 11 – January 16, 2009 the Russian market experienced a downturn in prices.

RTS Index (RTSI) went down to 566,77 points (-10,31%) from 631,89 points as of December 31, 2008. By the end of the week the RTS Index was 17,61% lower than a month ago (687,94 points as of December 16, 2008) and 74,53% lower than a year ago (2225,46 points as of January 16, 2008).

Out of 50 RTSI constituents 40 were pulling the Index downwards (-66,10 points), while 5 securities were pushing it upwards (+0,98 points). The price for 5 securities remained unchanged.

Most of the negative impact was coming from Sberbank ordinary shares (-13,21 points), Surgutneftegas ordinary shares (-12,15 points) and OJSC "MMC "NORILSK NICKEL” ordinary shares (-6,06 points).

The positive impact on the RTSI was minimal. Most of it was coming from Ufaneftekhim (+0,29 points).

Over 50% of the RTSI total capitalization is concentrated in the oil and gas castor. The other  large-weight sectors were finance (14,29%) and metallurgy (12,19%).

On the sector level the largest negative contributor was the oil & gas sector (-30,06 points in total), followed by the financial sector (-15,86 points) and metals & mining sector (-10,41 points).

RTSI Futures Contracts

The weekly trading volume in the RTSI derivatives stood at 71,1 billion rubles or 1,9 million contracts. Futures contracts on the RTS Index remain the most liquid instrument on the Russian derivatives market making up 64,04% of the total FORTS turnover (Futures and Options on RTS) in cash terms.

Over the week, the RTSI fell by 10,31%, with the prices of March and June contracts going down 6,13% and 7,77% respectively.

Last week the RTSI-linked futures were mostly trading below the spot. Bu the end of the period under review backwardation for March and June contracts stood at 6,94 points and 7,69 points respectively.

The total open interest in the RTSI futures grew by 62,73% over the week.

Second-tier stocks

For the week of January 11 – January 16, 2009 the second-tier stocks demonstrated a negative trend. The RTS-2 Index fell over the week by 7,26% to reach 508,41 points (548,20 as of December 31, 2008). At the end of the week the RTS-2 Index was 8,08% lower than a month ago (553,08 points as of December 16) and 80,60% lower than a year ago (2620,84 points as of January 16, 2008).

45 constituents out of 75 stocks on the basis of which the RTS-2 Index is calculated, had a negative impact on its dynamics (-45,91 points). However, 7 securities had a positive impact on its dynamics (+6,12 points). The price for 23 securities remained unchanged.

Most of the negative impact was from falling prices for ordinary shares of PJSC "Novorossiysk Commercial Sea Port" (-7,71 points), JSC " OPIN"  (-4,35 points) and JSC "Aeroflot" (-3,56 points). Most of the positive impact was from growing prices for ordinary shares of Ufaneftekhim (+2,25 points) and OJSC "Magnit" (1,76 points). Power industry (20,3%) had the largest weight in the RTS-2 Index, followed by consumer goods (13,1%), oil & gas (12,2%) and telecom (12,0%).  .

The largest negative pull was coming from securities of the following sectors: water transportation (-10,07 points overall), power industry (-9,12 points) and financial sector (-6,44 points).

The RTS family of indices

Over the week most of major economy sectors represented on the Russian stock market demonstrated a downward trend. 

The largest negative contributor was power industry: RTS – Electric utilities fell by 12,7%. Financial sector also showed a considerable drop: RTS – Financials fell by 12,58%.

The least drop was demonstrated by the RTS – Consumer & Retail: it lost 2,04%.