OREANDA-NEWS. Over the week of March 11 - 15, 2013 the Moscow Exchange Indices reflected the positive trend on the Russian stock market. The MICEX Index was up 0.25% to 1,495.11 (1,491.35 as of March 7, 2013) and the dollar-denominated RTS Index fell by 0.36% to 1 537.66 (1,532.09 as of March 7, 2013).

The US dollar appreciated by 0.51% against the ruble last week.

The stock market volatility decreased last week with the Russian Volatility Index decreasing by 4.97% to 19.30 (20.31 as of March 7, 2013).

Last week most of the key economic sectors represented on the Russian stock market behaved negatively. The largest downturn was reported by the electric utilities with the relevant sector index falling by 3.16%. A significant decrease was also shown by the manufacturing and the finance sector with the relevant sector indices being down 2.55% and 2.49% respectively. The largest upturn was reported by the consumer goods & retail (+2.29%).

The MICEX Innovation Index lost 0.16% to 468.74 (469.50 as of March 7, 2013).

The RTS Standard Index, the blue chip index, decreased by 0.08% to 10,103.57 (10,111.51 as of March 7, 2013).

Second-tier stocks indices experienced the negative trend. The ruble-denominated MICEX SC Index depreciated by 2.02% to 3,494.21 (3,566.32 as of March 7, 2013). The dollar-denominated RTS-2 Index lost 2.15% to 1,564.47 (1,598.89 as of March 7, 2013).

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

Over the week of March 11 - 15, 2013 the Moscow Exchange Indices reflected the positive trend on the Russian stock market. The MICEX Index was up 0.25% to 1,495.11 (1,491.35 as of March 7, 2013) and the dollar-denominated RTS Index rose by 0.36% to 1,537.66 (1,532.09 as of March 7, 2013).

At the end of the week the MICEX Index was 0.87% lower than a month ago (1,508.17 as of February 15, 2013) and 8.09% lower than a year ago (1,626.63 as of March 15, 2012). The RTS Index was 2.51% lower than a month ago (1,577.26 as of February 15, 2013) and 12.37% lower than a year ago (1,754.81 as of March 15, 2012).

Last week's increase of the RTS Index was accompanied by the decrease of volatility levels, when the Russian Volatility Index RTSVX was down 4.97%.

The most positive impact on the MICEX Index was mainly due to the rising prices for ordinary shares of GAZPROM (+1.10%), Magnit (+0.06%) and NOVATEK (+0.05%).

Trading volume of securities included into the Moscow Exchange Indices' list of constituents amounted to RUB 92.91 billion, and the market capitalization of the Indices' constituents amounted to RUB 20,424.1 billion.

At the end of the week, 20 constituents of the MICEX Index list were pushing the Index up (+1.38%), while 30 securities behaved negatively (-1.13%).

On the sector level, the major positive impact was made by the oil & gas sector (+0.86%) and the consumer & retail (+0.08%).

The oil & gas sector accounted for 50.33% of the MICEX Index total capitalization. The other large-weight sectors were the finance (19.76%) and the metals & mining (8.79%).

Blue Chip Index

For the week of March 11 - 15, 2013 the ruble- denominated RTS Standard Index, the blue-chip Index, showed a negative trend.

The RTS Standard Index was down 0.08% to 10,103.57 (10,111.51 as of March 7, 2013). At the end of the week the RTS Standard Index was 0.99% lower than a month ago (10,204.82 as of February 15, 2013) and 9.47% lower than a year ago (11,160.89 as of March 15, 2012).

At the end of the week, 12 out of 15 securities included into the index were pushing the RTS Standard Index down (-1.50%), while three shares behaved positively (+1.42%).

The most negative impact on the RTS Standard Index was mainly due to the falling prices for ordinary shares of Uralkali (-0.42%) and NorNickel GMK (-0.18%).

The most positive impact was due to the rising prices for ordinary shares of GAZPROM (+1.35%) and NOVATEK (+0.05%).

The oil & gas sector accounted for 55.05% of the blue chips index total capitalization. The other large- weight sectors were the finance (24.54%) and the metals & mining (7.83%).

Second- Tier Stocks Indices

For the week of March 11 - 15, 2013 second-tier stocks indices experienced the negative trend. The ruble-denominated MICEX SC Index depreciated by 2.02% to 3,494.21 (3,566.32 as of March 7, 2013). The dollar-denominated RTS-2 Index lost 2.15% to 1,564.47 (1,598.89 as of March 7, 2013).

At the end of the week the MICEX SC Index was 4.04% lower than a month ago (3,641.20 as of February 15, 2013) and 13.10% lower than a year ago (4,021,01 as of March 15, 2012).

The RTS-2 Index was 6.14% lower than a month ago (1,668.87 as February 15, 2012) and 17.94% lower than a year ago (1,906.51 as of March 15, 2012).

At the end of the week, 30 out of 50 securities included into the RTS-2 Index constituent list were pushing the Index down (-2.74%), while 18 securities behaved positively (+0.59%). The prices of two constituent stocks remained unchanged.

The most negative impact on the RTS-2 Index was mainly due to the falling prices for ordinary shares of TGK-1 (-0.56%) and AVTOVAZ (-0.27%).

The most positive impact was due to the rising prices of PROTEK (+0.21%) and MRSK Urala (+0.09%).

The most negative impact on the second-tier indices was mainly due to the falling prices for securities of the electric utilities (-0.88%) and the chemicals (-0.38%).

The electric utilities sector accounted for 41.93% of the RTS-2 Index total capitalization. The other large- weight sectors were the industrials (12.61%) and the consumer goods & retail (11.31%).

The Russian Government Bond Index (RGBI. total return) was down 0.64% to 137.46 last week (138.35 points as of March 07, 2013). The yield to maturity of the securities being the part of the calculation formula was up 14 basis points to 6.70%.

The Municipal Bond Index (MICEX MBI TR. total return) showed a loss off 0.04% and reached 169.85 basis points (169.91 as of March 07, 2013).

The total return value of the MICEX Corporate Bond Index (MICEX CBI TR) was up 0.12% to 228.94 points.

The conservative investment strategy tracking the last week's pension index could have resulted in a gain of 0.04% per week. The aggressive investment strategy based on the pension index could have brought a profit of 0.04% per week.

The bond overnight repo rate was down 34 basis points (from 6.36% to 6.02%). The equity overnight repo rate was down 24 basis points and equaled 5.82%.

Index Derivatives

For the week of March 11 - 15, 2013 the total trading volume in index futures and options on the Moscow Exchange Derivatives Market equaled RUB 693.78 billion or 7.35 million contracts.

Last week's trading volume for the most liquid contract on FORTS, futures contract on the RTS Index, amounted to RUB 612.82 billion or 6.52 million contracts.

The RTS Index futures contract traded in backwardation last week. By the end of the week the RTS Index gained 0.36%, while the March and June futures contracts up 1.29% and 0.15% respectively.

The total investor's open interest measured in RTS Index futures decreased by 32.36%.

During the week the trading volume in futures contract on the MICEX Index was RUB 6.95 billion or 46.41 thousand contracts. Open interest in the MICEX Index futures increased by 82.05%.

Trading volume in options on RTS Index futures totaled RUB 71.19 billion or 756.11 thousand contracts last week. Open interest of RUB 42.35 billion or 465.28 thousand contracts was fixed. Put options made up 35.77% of the total open interest for these contracts. The 155,000 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 decreased by 68.83%.