OREANDA-NEWS. On 19 August 2008 was announced, that the Ukrainian market continues its sideways movement by alternating the periods of slight growth with the periods of insignificant decline. This time,  for the reviewed period  the  PFTS index  added 1.5%, while preserving its high intra-week volatility. The other emerging markets sank a little bit: Morgan Stanley Emerging Markets index dipped 1.83%. The Russian stock market won back to a certain extent the excessively strong negative reaction to the political events that took place a week earlier and gained 3.64%. The developed markets cannot also boast with the common trend as well, which of late have been also characterized by high volatility.

The results of the broad UFC index confirm the common tendency of the past week: the indicator gained  0.56%.  Meanwhile, for some sectors the trading 5-day week was different: two sectoral indices went down, while one of them went up. The advancer became UFC Utilities that climbed  2.1%.

The growth locos became  the  shares of Centreenergo (PFTS: and Donetskoblenergo, which quotations added 8% and 6% accordingly.  The UFC Metals index went down insignificantly for a week and lost just 0.12%.  Despite significant growth of Mariupol Ilich Iron and Steel (PFTS: MMKI)  by  8%,  the amount of declining positions finally prevailed. Among the top decliners were Dniprovsk Dzerzhinski Iron and Steel (PFTS: DMKD) and Southern Mining (PFTS: PGZK), which dropped 6%.

Last week, the machine engineering lost 3.95%, while several positions had a rather significant drop in quotations. First and foremost, they include Motor Sich (PFTS: MSICH), which quotations collapsed 17%. In this context we must also highlight the plummet of Nasosenergomash (PFTS: SNEM)   by 15%, Donetskgormash (PFTS: DGRM)   by 13% and Azovzagalmash (PFTS: AZGM)   by 9%.

Gradually, with the month coming to its end, the daily average volume of trades with liquid securities is going up: this time it reached USD 4.2 mn that corresponds to a 65% increment as against the week before the last one. The energy sector won back its lost positions, which took 50% in the blue chips turnover structure. At the same time, the iron and steel as well as machine engineering were in less demand: 20% and 11% of the total volume of deals, accordingly.

The advancers/decliners ratio returned into "bullish" and equaled 42:26. The median spread demonstrated the narrowing tendency and by Friday close amounted to 9%.

The current situation in the Ukrainian market is characterized by high volatility of liquid securities, which is explained not only by trading conditions, but also by internal factors inherent to some positions. In the absence of a robust trend, one may expect the current situation will last till the end of this summer, as minimum.