OREANDA-NEWS. Over the week of March 25-29, 2013 the Moscow Exchange Indices reflected the negative trend on the Russian stock market. The MICEX Index was down 0.19% to 1,438.57 (1,441.36 as of March 22, 2013) and the dollar-denominated RTS Index fell by 0.74% to 1,460.04 (1,470.91 as of March 22, 2013).

The US dollar appreciated by 0.34% against the ruble last week.

The stock market volatility decreased last week with the Russian Volatility Index falling by 18.04% to 17.45 (21.29 as of March 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 3.68%. A significant decrease was also shown by the electric utilities and the financials with the relevant sector indices being down 2.48% and 2.00% respectively. The upturn was reported by the oil & gas sector (+0.71%).

The MICEX Innovation Index lost 3.48% to 434.34 (450.02 as of March 22, 2013).

The RTS Standard Index, the blue chip index, decreased by 0.30% to 9,766.50 (9,796.27 as of March 22, 2013).

Second-tier stocks indices experienced the negative trend. The ruble-denominated MICEX SC Index depreciated by 2.44% to 3,296.30 (3,378.70 as of March 22, 2013). The dollar-denominated RTS-2 Index lost 2.91% to 1,457.25 (1,500.93 as of March 22, 2013).

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

Over the week of March 25-29, 2013 the Moscow Exchange Indices reflected the negative trend on the Russian stock market. The MICEX Index was down 0.19% to 1,438.57 (1,441.36 as of March 22, 2013) and the dollar-denominated RTS Index fell by 0.74% to 1,460.04 (1,470.91 as of March 22, 2013).

At the end of the week the MICEX Index was 3.19% lower than a month ago (1,486.04 as of February 28, 2013) and 3.77% lower than a year ago (1,494.86 as of March 29, 2012). The RTS Index was 4.85% lower than a month ago (1,534.41 as of February 28, 2013) and 9.51% lower than a year ago (1,613.41 as of March 29, 2012).

Last week's decrease of the RTS Index was accompanied by the decrease of volatility levels, when the Russian Volatility Index RTSVX was down 18.04%.

The most negative impact on the MICEX Index was mainly due to the falling prices for ordinary shares of GAZPROM (-0.69%), Severstal (-0.08%) and VTB Bank (-0.08%).

Trading volume of securities included into the Moscow Exchange Indices' list of constituents amounted to RUB 116.35 billion, and the market capitalization of the Indices' constituents amounted to RUB 19,721.02 billion.

At the end of the week, 31 constituents of the MICEX Index list were pushing the Index down (-1.31%), while 19 securities behaved positively (+1.12%).

On the sector level, the major negative impact was made by the finance (-0.17%) and the metals & mining (-0.11%).

The oil & gas sector accounted for 51.85% of the MICEX Index total capitalization. The other large-weight sectors were the finance (18.51%) and the metals & mining (8.24%).

Blue Chip Index

For the week of March 25-29, 2013 the ruble- denominated RTS Standard Index, the blue-chip Index, showed a negative trend.

The RTS Standard Index was down 0.30% to 9,766.50 (9,796.27 as of March 22, 2013). At the end of the week the RTS Standard Index was 3.48% lower than a month ago (10,118.12 as of February 28, 2013) and 4.35% lower than a year ago (10,210.72 as of March 29, 2012).

At the end of the week, 7 out of 15 securities included into the index were pushing the RTS Standard Index down (-1.28%), while 7 shares behaved positively (+0.98%). The prices of three constituent stocks remained unchanged.

The most negative impact on the RTS Standard Index was mainly due to the falling prices for ordinary shares of GAZPROM (-0.85%) and Sberbank of Russia (-0.15%).

The most positive impact was due to the rising prices for ordinary shares of Oil company LUKOIL (+0.57%) and Uralkali (+0.13%).

The oil & gas sector accounted for 57.10% of the blue chips index total capitalization. The other large- weight sectors were the finance (22.34%) and the metals & mining (7.31%).

Second- Tier Stocks Indices

For the week of March 25-29, 2013 second-tier stocks indices experienced the negative trend. The ruble-denominated MICEX SC Index depreciated by 2.44% to 3,296.30 (3,378.70 as of March 22, 2013). The dollar-denominated RTS-2 Index lost 2.91% to 1,457.25 (1,500.93 as of March 22, 2013).

At the end of the week the MICEX SC Index was 8.17% lower than a month ago (3,589.68 as of February 28, 2013) and 14.29% lower than a year ago (3,845.93 as of March 29, 2012).

The RTS-2 Index was 10.13% lower than a month ago (1,621.46 as February 28, 2012) and 22.77% lower than a year ago (1,886.80 as of March 29, 2012).

At the end of the week, 36 out of 50 securities included into the RTS-2 Index constituent list were pushing the Index down (-3.75%), while 10 securities behaved positively (+0.84%). The prices of four constituent stocks remained unchanged.

The most negative impact on the RTS-2 Index was mainly due to the falling prices for ordinary shares of Enel OGK-5 (-0.57%) and Quadra - Power Generation (-0.42%).

The most positive impact was due to the rising prices of Far Eastern Shipping Company (+0.32%) and Volzhskaya Territorial Generiration Company (+0.13%).

The most negative impact on the second-tier indices was mainly due to the falling prices for securities of the electric utilities (-1.62%) and the finance (-0.53%).

The electric utilities sector accounted for 37.94% of the RTS-2 Index total capitalization. The other large- weight sectors were the industrials (12.65%) and the consumer goods & retail (11.43%).

Debt market

The Russian Government Bond Index (RGBI, total return) was up 0.28% to 137.67 last week (137.28 points as of March 22, 2013). The yield to maturity of the securities being the part of the calculation formula was down 8 basis points to 6.64%.

The Municipal Bond Index (MICEX MBI TR, total return) showed the positive trend and reached 170.11 basis points (169.94 as of March 22, 2013).

The total return value of the MICEX Corporate Bond Index (MICEX CBI TR) was up 0.04% to 229.63 points.

The conservative investment strategy tracking the last week's pension index could have resulted in a gain of 0.21% per week. The aggressive investment strategy based on the pension index could have brought a profit of 0.37% per week.

The bond overnight repo rate was up 5 basis points (from 6.05% to 6.10%). The equity overnight repo rate was up 24 basis points and equaled 5.99%.

Index Derivatives

For the week of March 25-29, 2013 the total trading volume in index futures and options on the Moscow Exchange Derivatives Market equaled RUB 641.06 billion or 7.32 million contracts.

Last week's trading volume for the most liquid contract on FORTS, futures contract on the RTS Index, amounted to RUB 562.75 billion or 6.46 million contracts.

The RTS Index futures contract traded in backwardation last week. By the end of the week the RTS Index lost 0.74%, while the March and June futures contracts down 0.86% and 0.89% respectively.

The total investor's open interest measured in RTS Index futures increased by 0.88%.

During the week the trading volume in futures contract on the MICEX Index was RUB 5.06 billion or 36.09 thousand contracts. Open interest in the MICEX Index futures decreased by 13.17%.

Trading volume in options on RTS Index futures totaled RUB 73.12 billion or 825.17 thousand contracts last week. Open interest of RUB 98.15 billion or 1.10 million contracts was fixed. Put options made up 44.85% of the total open interest for these contracts. The 155.000 strike calls and 120.000 strike puts had the highest open interest.

The total investors' open interest measured in options on the RTS index futures increased by 26.63%.