OREANDA-NEWS. Over the week of March 4-7, 2013 the Moscow Exchange Indices reflected the positive trend on the Russian stock market. The MICEX Index was up 1.21% to 1,491.35 (1,473.54 as of March 1, 2013) and the dollar-denominated RTS Index grew by 1.48% to 1,532.09 (1,509.80 as of March 1, 2013).

The US dollar appreciated by 0.36% against the ruble last week.

The stock market volatility decreased last week with the Russian Volatility Index falling by 9.09% to 20.31 (22.34 as of March 1, 2013).

Last week most of the key economic sectors represented on the Russian stock market behaved positively. The largest upturn was reported by the oil & gas with the relevant sector index rising by 1.48%. A significant increase was also shown by the electric utilities and the telecommunications with the relevant sector indices being up 0.83% and 0.78% respectively. The largest downturn was reported by the chemicals (-1.70%).

The MICEX Innovation Index gained 2.85% to 469.50 (456.50 as of March 1, 2013).

The RTS Standard Index, the blue chip index, increased by 0.97% to 10,111.51 (10,014.67 as of March 1, 2013).

Second-tier stocks indices experienced the negative trend. The ruble-denominated MICEX SC Index depreciated by 0.03% to 3,566.32 (3,567.55 as of March 1, 2013). The dollar-denominated RTS-2 Index lost 0.23% to 1,598.89 (1,602.56 as of March 1, 2013).

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

Over the week of March 4-7, 2013 the Moscow Exchange Indices reflected the positive trend on the Russian stock market. The MICEX Index was up 1.21% to 1,491.35 (1,473.54 as of March 1, 2013) and the dollar-denominated RTS Index grew by 1.48% to 1,532.09 (1,509.80 as of March 1, 2013).

At the end of the week the MICEX Index was 2.26% lower than a month ago (1,525.88 as of February 7, 2013) and 5.18% lower than a year ago (1,572.83 as of March 7, 2012). The RTS Index was 3.97% lower than a month ago (1,595.36 as of February 7, 2013) and 8.65% lower than a year ago (1,677.21 as of March 7, 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 9.09%.

The most positive impact on the MICEX Index was mainly due to the rising prices for ordinary shares of Oil company LUKOIL (+0.36%), Sberbank of Russia (+0.34%) and Rosneft Oil Company (+0.15%).

Trading volume of securities included into the Moscow Exchange Indices' list of constituents amounted to RUB 105.80 billion, and the market capitalization of the Indices' constituents amounted to RUB 20,349.75 billion.

At the end of the week, 29 constituents of the MICEX Index list were pushing the Index up (+1.62%), while 21 securities behaved negatively (-0.41%).

On the sector level, the major positive impact was made by the oil & gas sector (+0.62%) and the finance (+0.37%).

The oil & gas sector accounted for 49.60% of the MICEX Index total capitalization. The other large-weight sectors were the finance (19.98%) and the metals & mining (9.09%).

Blue Chip Index

For the week of March 4-7, 2013 the ruble- denominated RTS Standard Index, the blue-chip Index, showed a positive trend.

The RTS Standard Index was up 0.97% to 10,111.51 (10,014.67 as of March 1, 2013). At the end of the week the RTS Standard Index was 2.44% lower than a month ago (10,364.18 as of February 7, 2013) and 6.01% lower than a year ago (10,758.35 as of March 7, 2012).

At the end of the week, 8 out of 15 securities included into the index were pushing the RTS Standard Index up (+1.40%), while four shares behaved negatively (-0.43%). The prices of three constituent stocks remained unchanged.

The most positive impact on the RTS Standard Index was mainly due to the rising prices for ordinary shares of Oil company LUKOIL (+0.46%) and Sberbank of Russia (+0.41%).

The most negative impact was due to the falling prices for ordinary shares of NOVATEK (-0.22%) and GAZPROM (-0.11%).

The oil & gas sector accounted for 53.98% of the blue chips index total capitalization. The other large- weight sectors were the finance (24.71%) and the metals & mining (8.08%).

For the week of March 4-7, 2013 second-tier stocks indices experienced the negative trend. The ruble- denominated MICEX SC Index depreciated by 0.03% to 3,566.32 (3,567.55 as of March 1, 2013). The dollar- denominated RTS-2 Index lost 0.23% to 1,598.89 (1,602.56 as of March 1, 2013).

At the end of the week the MICEX SC Index was 0.36% lower than a month ago (3,579.12 as of February 7, 2013) and 8.92% lower than a year ago (3,915.59 as of March 7, 2012).

The RTS-2 Index was 2.99% lower than a month ago (1,648.09 as February 7, 2012) and 14.38% lower than a year ago (1,867.40 as of March 7, 2012).

At the end of the week, 22 out of 50 securities included into the RTS-2 Index constituent list were pushing the Index down (-1.33%), while 25 securities behaved positively (+1.10%). 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 preferred shares (-0.30%) and ordinary shares of Nizhnekamskneftekhim (-0.26%).

The most positive impact was due to the rising prices of TGK 1 (+0.19%) and TGK 6 (+0.16%).

The most negative impact on the second-tier indices was mainly due to the falling prices for securities of the chemicals (-0.51%) and the finance (-0.22%).

The electric utilities sector accounted for 41.91% of the RTS-2 Index total capitalization. The other large- weight sectors were the industrials (12.72%) and the chemicals (11.19%).

Debt market

The Russian Government Bond Index (RGBI, total return) was down 0.22% to 138.35 last week (138.65 points as of March 01, 2013). The yield to maturity of the securities being the part of the calculation formula was up 4 basis points to 6.56%.

The Municipal Bond Index (MICEX MBI TR, total return) showed the positive trend and reached 169.91 growing by 0.15% (169.65 as of March 01, 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 0.12% per week. The aggressive investment strategy based on the pension index could have brought a profit of 0.56% per week.

The bond overnight repo rate was up 23 basis points (from 6.13% to 6.36%). The equity overnight repo rate was up 14 basis points and equaled 6.06%.

Index Derivatives

For the week of March 4-7, 2013 the total trading volume in index futures and options on the Moscow Exchange Derivatives Market equaled RUB 517.50 billion or 5.54 million contracts.

Last week's trading volume for the most liquid contract on FORTS, futures contract on the RTS Index, amounted to RUB 455.57 billion or 4.89 million contracts.

The RTS Index futures contract traded in backwardation last week. By the end of the week the RTS Index gained 1.48%, while the March and June futures contracts up 1.55% and 1.72% respectively.

The total investor's open interest measured in RTS Index futures decreased by 4.43%.

During the week the trading volume in futures contract on the MICEX Index was RUB 3.37 billion or 22.68 thousand contracts. Open interest in the MICEX Index futures decreased by 0.95%.

Trading volume in options on RTS Index futures totaled RUB 56.80 billion or 610.17 thousand contracts last week. Open interest of RUB 138.67 billion or 1.49 million contracts was fixed. Put options made up 47.03% 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 10.28%.