OREANDA-NEWS. Over the week of June 17-21, 2013 the Moscow Exchange MICEX Index reflected the negative trend on the Russian stock market. The MICEX Index was down 0.06% to 1,298.89 (1,299.61 as of June 14, 2013) and the dollar-denominated RTS Index fell by 3.72% to 1,245.72 (1,293.88 as of June 14, 2013).

The US dollar appreciated by 1.10% against the ruble last week.

The stock market volatility increased last week with the Russian Volatility Index rising by 6.54% to 32.56 (30.56 as of June 14, 2013).

Last week part of the key economic sectors represented on the Russian stock market behaved negatively. The largest downturn was reported by the telecommunication with the relevant sector index falling by 2.29%. A significant decrease was also shown by the metals and mining and the electric utilities with the relevant sector indices being down 0.93% and 0.46% respectively. The largest upturn was reported by the oil and gas (+2.46%).

The MICEX Innovation Index lost 4.97% to 406.88 (428.15 as of June 14, 2013).

The Blue-Chip Index decreased by 3.63% to 8,764.69(8,787.42 as of June 14, 2013).

The Second-Tier Index depreciated by 0.39% to 2,942.25 (2,953.88 as of June 14, 2013). The Broad Market Index lost 0.15% to 919.49 (920.90 as of June 14, 2013).

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

Over the week of June 17-21, 2013 the Moscow Exchange MICEX Index reflected the negative trend on the Russian stock market. The MICEX Index was down 0.06% to 1,298.89 (1,299.61 as of June 14, 2013) and the dollar-denominated RTS Index fell by 3.72% to 1,245.72 (1,293.88 as of June 14, 2013).

At the end of the week the MICEX Index was 8.72% lower than a month ago (1,422.99 as of May 21, 2013) and 4.74 % lower than a year ago (1,363.58 as of June 21, 2012). The RTS Index was 13.07% lower than a month ago (1,433.02 as of May 21, 2013) and 4.68% lower than a year ago (1,306.85 as of June 21, 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 6.54%.

The most negative impact on the MICEX Index was mainly due to the falling prices for ordinary shares of OAO "LUKOIL" (-0.46%), Sberbank (-0.31%) and "OJSC "MMC "NORILSK NICKEL" (-0.06%).

Trading volume of securities included into the Moscow Exchange Indices' list of constituents amounted to RUB 140.84 billion, and the market capitalization of the Indices' constituents amounted to RUB 18,001.93 billion.

At the end of the week, 23 constituents of the new and the reviewed MICEX Index list were pushing the Index down (-1.14%), while 27 securities behaved positively (+1.08%). The price of one constituent stock remained unchanged.

On the sector level, the major negative impact was made by the finance (-0.29%) and the telecommunication (-0.11%).

The oil & gas sector accounted for 48.99% of the MICEX Index total capitalization. The other large-weight sectors were the finance (20.74%) and the metals & mining (7.03%).

Blue Chip Index

For the week of June 17 -21, 2013 the Blue Chip Index showed a negative trend.

The Blue Chip Index was down 0.26% to 8,764.69 (8,787.42 as of June 14, 2013). At the end of the week the Blue Chip Index was 8.75% lower than a month ago (9,604.86 as of May 14, 2013) and 6.63% lower than a year ago (9,386.86 as of June 14, 2012).

At the end of the week, 11 out of 15 securities included into the new and the reviewed Index list were pushing the Blue Chip Index down (-1.14%), while 8 shares behaved positively (+0.88%).

The most negative impact on the Blue Chip Index was mainly due to the falling prices for ordinary shares of OAO "LUKOIL" (-0.49%) and Sberbank (-0.31%).

The most positive impact was due to the rising prices for ordinary shares of JSC "NOVATEK" (+0.34%) and Rosneft (+0.31%).

The oil & gas sector accounted for 53.85% of the Blue Chip Index total capitalization. The other large- weight sectors were the finance (21.19%) and the telecommunication (7.16%).

Broad Market and Second- Tier Indices

For the week of June 17 -21, 2013 the Second-Tier Index depreciated by 0.39% to 2,942.25 (2,953.88 as of June 14, 2013). The Broad Market Index lost 0.15% to 919.49 (920.90 as of June 14, 2013).

At the end of the week the Second-Tier Index was 5.13% lower than a month ago (3,101.26 as of May 21, 2013) and 7.26% lower than a year ago (3,172.58 as of June 21, 2012).

The Broad Market Index was 8.73% lower than a month ago (1,007.46 as May 21, 2012) and 5.14% lower than a year ago (969.29 as of June 21, 2012).

At the end of the week, 24 securities included into the new and the reviewed Second-Tier Index constituent list were pushing the Index down (-1.78%), while 28 securities behaved positively (+1.39%). The price of one constituent stock remained unchanged.

The most negative impact on the Second-Tier Index was due to the falling prices of JSC "Quadra - Power Generation" (-0.46%) and OJSC "TransContainer" (-0.26%).

The most negative impact on the Broad Market Index was mainly due to the falling prices for ordinary shares of OAO "LUKOIL" (-0.46%) and Sberbank (-0.31%).

The most negative impact on the Second-Tier Index was mainly due to the falling prices for securities of the transportation (-0.33%) and the electric utilities (-0.17%).

The electric utilities sector accounted for 38.59% of the Second-Tier Index total capitalization. The other large-weight sectors were the consumer goods & retail (18.76%) and the industrials (9.64%).

Debt Market

The Russian Government Bond Index (RGBI, total return) was down 2.38% to 132.35 last week (135.57 points as of June 14, 2013). The yield to maturity of the securities being the part of the calculation formula was up 35 basis point to 7.43%.

The Municipal Bond Index (MICEX MBI TR, total return) showed the positive trend and reached 173.04 basis points (172.95 as of June 14, 2013).

The total return value of the MICEX Corporate Bond Index (MICEX CBI TR) was down 0.05% to 232.96 points.

The conservative investment strategy tracking the last week's pension index could have resulted in a gain of 0.01% per week. The aggressive investment strategy based on the pension index could have brought a loss of 0.91% per week.

The bond overnight repo rate was down 4 basis points (from 6.03% to 5.99%). The equity overnight repo rate was up 8 basis points and equaled 6.18%.

Index Derivatives

For the week of June 17 - 21, 2013 the total trading volume in index futures and options on the Moscow Exchange Derivatives Market equaled RUB 722.39 billion or 8.73 million contracts.

Last week's trading volume for the most liquid contract on FORTS, futures contract on the RTS Index, amounted to RUB 625.17 billion or 7.59 million contracts.

The RTS Index futures contract traded in backwardation last week. By the end of the week the RTS Index lost 3.72%, while the September and the December futures contracts down 3.37% and 3.67% respectively. On June 17, the RTS Index June futures contracts were settled. The settlement price equaled 132,105 points.

The total investor's open interest measured in RTS Index futures decreased by 21.28%.

During the week the trading volume in futures contract on the MICEX Index was RUB 6.97 billion or 52.64 thousand contracts. Open interest in the MICEX Index futures increased by 177.68%.

Trading volume in options on RTS Index futures totaled RUB 90.00 billion or 1.08 million contracts last week. Open interest of RUB 74.48 billion or 860.90 thousand contracts was fixed. Put options made up 35.82% of the total open interest for these contracts. The 150.000 strike calls and 130.000 strike puts had the highest open interest.

The total investors' open interest measured in options on the RTS index futures decreased by 56.46%.