OREANDA-NEWS. Over the week of April 15-19, 2013 the Moscow Exchange Indices reflected the negative trend on the Russian stock market. The MICEX Index was down 3.42% to 1,338.43 (1,385.84 as of April 12, 2013) and the dollar-denominated RTS Index fell by 4.91% to 1,336.46 (1,405.47 as of April 12, 2013).

The US dollar appreciated by 2.70% against the ruble last week.

The stock market volatility increased last week with the Russian Volatility Index rising by 9.57% to 23.35 (21.31 as of April 12, 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 8.60%. A significant decrease was also shown by the industrials and the telecommunications with the relevant sector indices being down 7.26% and 4.18% respectively.

The MICEX Innovation Index lost 1.00% to 396.34 (400.33 as of April 12, 2013).

The RTS Standard Index, the blue chip index, decreased by 3.28% to 9,150.91 (9,461.14 as of April 12, 2013).

Second-tier stocks indices experienced the negative trend. The ruble-denominated MICEX SC Index depreciated by 4.28% to 2,914.87 (3,045.19 as of April 12, 2013). The dollar-denominated RTS-2 Index lost 5.21% to 1,250.48 (1,319.17 as of April 12, 2013).

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

Over the week of April 15-19, 2013 the Moscow Exchange Indices reflected the negative trend on the Russian stock market. The MICEX Index was down 3.42% to 1,338.43 (1,385.84 as of April 12, 2013) and the dollar-denominated RTS Index fell by 4.91% to 1,336.46 (1,405.47 as of April 12, 2013).

At the end of the week the MICEX Index was 7.64% lower than a month ago (1,449.20 as of March 19, 2013) and 10.57% lower than a year ago (1,496.60 as of April 19, 2012). The RTS Index was 9.63% lower than a month ago (1,478.82 as of March 19, 2013) and 16.97% lower than a year ago (1,609.56 as of April 19, 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 9.57%.

The most negative impact on the MICEX Index was mainly due to the falling prices for ordinary shares of GAZPROM (-0.77%), LUKOIL (-0.37%) and Sberbank (-0.28%).

Trading volume of securities included into the Moscow Exchange Indices' list of constituents amounted to RUB 125.95 billion, and the market capitalization of the Indices' constituents amounted to RUB 18,339.27 billion.

At the end of the week, 45 constituents of the MICEX Index list were pushing the Index down (-3.58%), while 5 securities behaved positively (+0.16%).

On the sector level, the major negative impact was made by the oil & gas (-1.85%) and the financials (-0.53%).

The oil & gas sector accounted for 51.68% of the MICEX Index total capitalization. The other large-weight sectors were the finance (18.98%) and the metals & mining (8.33%).

Blue Chip Index

For the week of April 15-19, 2013 the ruble- denominated RTS Standard Index, the blue-chip Index, showed a negative trend.

The RTS Standard Index was down 3.28% to 9,150.91 (9,461.14 as of April 12, 2013). At the end of the week the RTS Standard Index was 6.81% lower than a month ago (9,819.96 as of March 19, 2013) and 10.42% lower than a year ago (10,215.91 as of April 19, 2012).

At the end of the week, 12 out of 15 securities included into the index were pushing the RTS Standard Index down (-3.37%), while two shares behaved positively (+0.09%). The price of one constituent stock remained unchanged.

The most negative impact on the RTS Standard Index was mainly due to the falling prices for ordinary shares of GAZPROM (-1.03%) and LUKOIL (-0.46%).

The positive impact was due to the rising prices for ordinary shares of Uralkali (+0.08%) and preferred shares of Sberbank (+0.01%).

The oil & gas sector accounted for 56.59% of the blue chips index total capitalization. The other large- weight sectors were the finance (22.86%) and the metals & mining (7.26%).

Second- Tier Stocks Indices

For the week of April 15-19, 2013 second-tier stocks indices experienced the negative trend. The ruble-denominated MICEX SC Index depreciated by 4.28% to 2,914.87 (3,045.19 as of April 12, 2013). The dollar-denominated RTS-2 Index lost 5.21% to 1,250.48 (1,319.17 as of April 12, 2013).

At the end of the week the MICEX SC Index was 15.06% lower than a month ago (3,431.52 as of March 19, 2013) and 23.34% lower than a year ago (3,802.32 as of April 19, 2012).

The RTS-2 Index was 17.80% lower than a month ago (1,521.24 as March 19, 2012) and 32.54% lower than a year ago (1,853.73 as of April 19, 2012).

At the end of the week, 42 securities included into the RTS-2 Index constituent list were pushing the Index down (-6.14%), while 5 securities behaved positively (+0.93%). 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 Irkutskenergo (-0.78%) and KAMAZ (-0.47%).

The most positive impact was due to the rising prices of Volga TGC (+0.28%) and Bank Saint- Petersburg (+0.23%).

The most negative impact on the second-tier indices was mainly due to the falling prices for securities of the electric utilities (-1.67%) and the industrials (-1.14%).

The electric utilities sector accounted for 37.92% of the RTS-2 Index total capitalization. The other large- weight sectors were the industrials (12.43%) and the consumer goods & retail (11.92%).

Debt market

The Russian Government Bond Index (RGBI, total return) was up 0.11% to 139.75 last week (139.59 points as of April 12, 2013). The yield to maturity of the securities being the part of the calculation formula was down 1 basis point to 6.53%.

The Municipal Bond Index (MICEX MBI TR, total return) showed the positive trend and reached 171.12 basis points (170.90 as of April 12, 2013).

The total return value of the MICEX Corporate Bond Index (MICEX CBI TR) was up 0.15% to 231.39 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 1.67% per week.

The bond overnight repo rate was up 18 basis points (from 5.91% to 6.12%). The equity overnight repo rate was up 17 basis points and equaled 6.08%.

Index Derivatives

For the week of April 15-19, 2013 the total trading volume in index futures and options on the Moscow Exchange Derivatives Market equaled RUB 789.40 billion or 9.46 million contracts.

Last week's trading volume for the most liquid contract on FORTS, futures contract on the RTS Index, amounted to RUB 686.67 billion or 8.27 million contracts.

The RTS Index futures contract traded in backwardation last week. By the end of the week the RTS Index lost 4.91%, while the June and the September futures contracts down 4.92% and 5.01% respectively.

The total investor's open interest measured in RTS Index futures decreased by 8.19%.

During the week the trading volume in futures contract on the MICEX Index was RUB 6.74 billion or 50.61 thousand contracts. Open interest in the MICEX Index futures increased by 9.51%.

Trading volume in options on RTS Index futures totaled RUB 95.76 billion or 1.14 million contracts last week. Open interest of RUB 100.80 billion or 1.17 million contracts was fixed. Put options made up 43.22% of the total open interest for these contracts. The 145.000 strike calls and 135.000 strike puts had the highest open interest.

The total investors' open interest measured in options on the RTS index futures decreased by 29.11%.