OREANDA-NEWS. Over the week of February 25 - March 1, 2013 the Moscow Exchange Indices reflected the negative trend on the Russian stock market. The MICEX Index was down 1.54% to 1,473.54 (1,496.61 as of February 22, 2013) and the dollar-denominated RTS Index fell by 2.66% to 1,509.80 (1,551.04 as of February 22, 2013).

The US dollar appreciated by 0.92% against the ruble last week.

The stock market volatility increased last week with the Russian Volatility Index rising by 15.63% to 22.34 (19.32 as of February 22, 2013).

Last week most of the key economic sectors represented on the Russian stock market behaved negatively. The largest downturn was reported by the metals & mining with the relevant sector index falling by 3.26%. A significant decrease was also shown by the electric utilities and the oil & gas sector with the relevant sector indices being down 3.05% and 1.98% respectively. The largest upturn was reported by the telecommunications (+2.29%).

The MICEX Innovation Index lost 2.92% to 456.50 (470.23 as of February 22, 2013).

The RTS Standard Index, the blue chip index, decreased by 1.50% to 10,014.67 (10,167.44 as of February 22, 2013).

Second-tier stocks indices experienced the negative trend. The ruble-denominated MICEX SC Index depreciated by 1.47% to 3,567.55 (3,620.90 as of February 22, 2013). The dollar-denominated RTS-2 Index lost 2.48% to 1,602.56 (1,643.24 as of February 22, 2013).

MICEX & RTS Indices, the main indices of the Moscow Exchange

Over the week of February 25 - March 1, 2013 the Moscow Exchange Indices reflected the negative trend on the Russian stock market. The MICEX Index was down 1.54% to 1,473.54 (1,496.61 as of February 22, 2013) and the dollar- denominated RTS Index fell by 2.66% to 1,509.80 (1,551.04 as of February 22, 2013).

At the end of the week the MICEX Index was 4.76% lower than a month ago (1,547.22 as of February 1, 2013) and 7.66% lower than a year ago (1,595.78 as of March 1, 2012). The RTS Index was 7.28% lower than a month ago (1,628.31 as of February 1, 2013) and 12.40% lower than a year ago (1,723.57 as of March 1, 2012).

Last week's decrease of the RTS Index was accompanied by the increase of volatility levels, when the Russian Volatility Index RTSVX was up 15.63%.

The most negative impact on the MICEX Index was mainly due to the falling prices for ordinary shares of Sberbank of Russia (-0.45%), Rosneft Oil Company (-0.23%) and GAZPROM (-0.22%).

Trading volume of securities included into the Moscow Exchange Indices' list of constituents amounted to RUB 106.89 billion, and the market capitalization of the Indices' constituents amounted to RUB 20, 133.29 billion.

At the end of the week, 41 constituents of the MICEX Index list were pushing the Index down (-1.93%), while 9 securities behaved positively (+0.39%).

On the sector level, the major negative impact was made by the oil & gas sector (-0.88%) and the finance (-0.40%).

The oil & gas sector accounted for 49.57% of the MICEX Index total capitalization. The other large-weight sectors were the finance (19.86%) and the metals & mining (9.12%).

Blue Chip Index

For the week of February 25 - March 1, 2013 the ruble-denominated RTS Standard Index, the blue-chip Index, showed a negative trend.

The RTS Standard Index was down 1.50% to 10,014.67 (10,167.44 as of February 22, 2013). At the end of the week the RTS Standard Index was 4.90% lower than a month ago (10,530.30 as of February 1, 2013) and 8.55% lower than a year ago (10,951.14 as of March 1, 2012).

At the end of the week, 10 out of 15 securities included into the index were pushing the RTS Standard Index down (-1.83%), while three shares behaved positively (+0.33%). The prices of two constituent stocks remained unchanged.

The most negative impact on the RTS Standard Index was mainly due to the falling prices for ordinary shares of Sberbank of Russia (-0.57%) and Rosneft Oil Company (-0.30%).

The most positive impact was due to the rising prices for ordinary shares of Rostelecom (+0.18%) and VTB Bank (+0.10%).

The oil & gas sector accounted for 54.11% of the blue chips index total capitalization. The other large- weight sectors were the finance (24.50%) and the metals & mining (8.04%).

Second- Tier Stocks Indices

For the week of February 25 - March 1, 2013 second-tier stocks indices experienced the negative trend. The ruble-denominated MICEX SC Index depreciated by 1.47% to 3,567.55 (3,620.90 as of February 22, 2013). The dollar-denominated RTS-2 Index lost 2.48% to 1,602.56 (1,643.24 as of February 22, 2013).

At the end of the week the MICEX SC Index was 0.68% lower than a month ago (3,592.09 as of February 1, 2013) and 9.75% lower than a year ago (3,953.09 as of March 1, 2012).

The RTS-2 Index was 3.94% lower than a month ago (1,668.33 as February 1, 2012) and 13.57% lower than a year ago (1,854.16 as of March 1, 2012).

At the end of the week, 38 out of 50 securities included into the RTS-2 Index constituent list were pushing the Index down (-3.34%), while 9 securities behaved positively (+0.86%). The prices of three constituent stocks remained unchanged.

The most negative impact on the RTS-2 Index was mainly due to the falling prices for ordinary shares of Quadra - Power Generation (-0.39%) and TGK 1 (-0.36%).

The most positive impact was due to the rising prices of Far Eastern Shipping Company (+0.39%) and GAZ (+0.19%).

The most negative impact on the second-tier indices was mainly due to the falling prices for securities of the electric utilities (-1.84%) and the chemicals (-0.30%).

The electric utilities sector accounted for 41.22% of the RTS-2 Index total capitalization. The other large- weight sectors were the industrials (12.72%) and the chemicals (11.68%).

Debt market

The Russian Government Bond Index (RGBI, total return) was down 0.17% to 138.65 last week (138.75 points as of February 22, 2013). The yield to maturity of the securities being the part of the calculation formula was up 16 basis points to 6.52%.

The Municipal Bond Index (MICEX MBI TR. total return) showed the positive trend and reached 169.65 growing by 0.06% (169.57 as of February 22, 2013).

The total return value of the MICEX Corporate Bond Index (MICEX CBI TR) was up 0.17% to 228.67 points.

The conservative investment strategy tracking the last week's pension index could have resulted in a gain of 0.14% per week. The aggressive investment strategy based on the pension index could have brought a loss of 0.52% per week.

The bond overnight repo rate was up 6 basis points (from 6.07% to 6.13%). The equity overnight repo rate was up 2 basis points and equaled 5.92%.

Index Derivatives

For the week of February 25 - March 1, 2013 the total trading volume in index futures and options on the Moscow Exchange Derivatives Market equaled RUB 667.35 billion or 7.11 million contracts.

Last week's trading volume for the most liquid contract on FORTS, futures contract on the RTS Index, amounted to RUB 592.41 billion or 6.33 million contracts.

The RTS Index futures contract traded in backwardation last week. By the end of the week the RTS Index lost 2.66%, while the March and December futures contracts down 2.69% and 2.78% respectively.

The total investor's open interest measured in RTS Index futures increased by 21.97%.

During the week the trading volume in futures contract on the MICEX Index was RUB 3.25 billion or 21.78 thousand contracts. Open interest in the MICEX Index futures increased by 2.31%.

Trading volume in options on RTS Index futures totaled RUB 69.68 billion or 742.24 thousand contracts last week. Open interest of RUB 126.36 billion or 1.35 million contracts was fixed. Put options made up 47.36% of the total open interest for these contracts. The 160.000 strike calls and 150.000 strike puts had the highest open interest.

The total investors' open interest measured in options on the RTS index futures increased by 25.69%.