OREANDA-NEWS. In 2013, the MICEX Index was up 1.99% to 1,504.08 (from 1,474.72 on 28 December, 2012), while the dollar-denominated RTS Index fell 5.52% to 1,442.73 (from 1,526.98).

The dollar appreciated 7.05% against the rouble.

Volatility decreased, with the Russian Volatility Index falling 28.98% to 17.20 (from 24.22).

Most key sectors made gains. The largest upturn was in Consumer goods and Retail, the sector index of which rose 25.59%. Transport and Financials climbed a respective 24.11% and 16.53%. The largest loss in Electric utilities is 39.54%

The MICEX Innovation Index fell 21.66% to 386.62 (from 493.54).The Blue Chip Index increased 0.74% to 10,176.90 (from 10,102.06).The Second Tier Index depreciated 8.63% to 3,110.74 (from 3,404.57). The Broad Market Index gained 1.68% to1,063.42 (from 1,045.87).

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

In 2013, the MICEX Index was up 1.99% to 1,504.08 (from 1,474.72 on 28 December, 2012), while the dollar-denominated RTS Index fell 5.52% to 1,442.73 (from 1,526.98).

By the end of 2013, the MICEX Index was 10.90% lower its closing level three years ago (from 1,687.99 as of December 30, 2010). The RTS Index was lower 18.50% its closing level three years ago (from 1,770.28).

The turnover of securities included in Moscow Exchange's indices was RUB 7.30 trl, and their market cap totalled RUB 21,364.51 bln.

Of the 56 MICEX Index constituents, 24 constituents of the MICEX Index lists pulled the index up (rising a total 8.88%), while 32 incurred losses (totaling 6.89%).

On the sector level, the major positive impact on The MICEX Index was consumer goods and retail (up 2.53%), financials (up 2.28%) and oil and gas (rising 1.02%).

The largest positive impact on the MICEX Index was from prices rising for ords of Magnit (up 2.55%), Sberbank (up 1.24%) and MTS (up 1.19%). The largest negative impact was from price losses by ords of Uralkali (down 1.23%) and FGS UES (off 0.58%).

The largest negative impact on the RTS Index was from prices falling for ords of GAZPROM (down 1.54%), Uralkali (off 1.49%) and LUKOIL (falling 0.86%). The largest positive impact on the RTS Index was from price gains by ords of Magnit (up 2.16%) and MTS (up 0.93%).

Oil & gas accounted for 48.19% of the MICEX Index's total capitalization. The other heavily weighted sectors were financials (at 21.40%) and telecoms (at 8.37%).

The Blue Chip Index rose in 2013.

It was up 0.74% YoY to 10,176.90 (from

10,102.06). At the end of the month the Blue Chip Index was 10.68% lower its closing level three years ago (11,393.51 points as of December 30, 2010).

Of the 20 securities included in the Index lists, eleven were pulling the Blue Chip Index up at the end of the year (rising a total 6.90%), while nine made losses (totaling 6.16%).

The largest positive impact on the index was from prices rising for ords of Magnit (up 1.58%) and Sberbank (up 1.41%).

The largest negative impact was from price losses by ords of Uralkali (down 1.44%) and Gazprom (off 1.04%).

The oil & gas sector accounted for 53.80% of the Blue Chip Index's total capitalization. The other large weight sectors were financials (23.68%) and consumer goods and retail (7.30%).

In 2013 Aggregate bond index RUABITR (total return), comprised of Government, corporate and municipal bonds traded on Moscow Exchange was up 6.19% (publication of the index values started in December, 2013).

Russian Government Bond Index RGBITR was up 3.80% to 324.62 points. The YTM of securities included in the index was up 57 bps to 7.15%. Trading volume of RGBITR reached RUB 453.67 bln for the year. The highest growth among government bond indices, segmented by duration, showed RUGBITR3Y that includes government bonds with duration equal 1 - 3 years. It grew up by 6.40%.

Municipal bond index MICEXMBITR was up 7.79% in 2013 and equaled 179.16. The highest growth among municipal bond indices segmented by duration and credit quality showed RUMBITRBB that includes bonds with duration more than 1 year and credit rating from BB- to BB+. It grew up by 9.33% in 2013. The lowest growth among municipal bond showed RUMBITR1Y that includes bonds with duration less than 1 year, it was up 6.91%.

The MICEX Corporate Bond Index MICEXCBITR total return value was up 8.81% to 243.91 points. The YTM of securities included in the calculation formula was 8.34%.

High credit quality corporate bond index RUCBITRBBB was up 9.15%. "BB segment* bond index RUCBITRBB was up 10.63%, "B segment* bond index RUCBITRB was up 10.58%. The highest growth among corporate bond indices showed RUCBITRBB5Y that includes bonds with credit rating from BB- to BB+ and duration 3 - 5 years. It grew up by 12.53%.

In segment of corporate bond indices with duration from 1 to 3 years the highest growth equaled

10.58% showed RUCBITRB3Y index.

The RUCBITRBBB3+ index that includes corporate bonds with credit quality more than BBB-and duration over 3 years was up 9.64%.

The highest yield to maturity (YTM) on 30.12.2013 showed RCBITRB index. It was 10.08%.

The bond overnight repo rate indicator was up 7 bps (from 6.35% to 6.42%). The equity overnight repo rate indicator was 6.78%.

The volume of overnight repo transactions with bonds included in the indicator reached RUB 24.56 trln., with equity it was RUB 21.21 trln.

A conservative pension investment strategy tracking RUPCI index could have resulted in 8.14% YoY gain. The aggressive investment strategy could have brought a growth of 3.82%. Moderate Pension index was up 5.89%. BPSI subindex that covers bonds issued by Russian corporate issuers, regions and municipalities showed the highest growth in 2013 equaled 8.21%.

Index Derivatives

In 2013 the total trading volume in index futures and options on the Moscow Exchange Derivatives Market equaled RUB 27,833.82 billion or 310.10 million contracts.

Last year's trading volume for the most liquid contract on FORTS, futures contract on the RTS Index, amounted to RUB 23,816.16 billion or 266.13 million contracts.

The RTS Index futures contract traded in backwardation last year. With RTSI going down by 5.52%, the March contracts with the settlement in 2014 fell in price by 5.59% by the end of 2013, compared with the price on the March contracts in the end of 2012 with the settlement in 2013.

The total investor's open interest measured in RTS Index futures increased by 37.77%.

During 2013 the trading volume in futures contract on the MICEX Index was RUB 215.17 billion or 1,511.96 thousand contracts. Open interest in the contract on the MICEX Index decreased by 73.05% for the year.

Trading volume in options on RTS Index futures totaled RUB 3,777.26 billion or 42.23 million contracts last year. Open interest of RUB 120.99 billion or 1,373.96 thousand contracts was fixed. Put options made up 66.84% of the total open interest for these contracts. The 155,000 strike calls and 130,000 strike puts had the highest open interest.

The total investor's open interest measured in options on the RTS index futures increased by 127.60%.