OREANDA-NEWS. In January 2014, Moscow Exchange's indices reflected the negative trend on the Russian stock market. The MICEX Index was down 3.30% to 1,454.45 (from 1,504.08 on 30 December), while the dollar-denominated RTS Index fell 9.82% to 1,301.02 (from 1,442.73).

The dollar appreciated 8.02% against the rouble.

Volatility increased, with the Russian Volatility Index rising 46.45% to 25.19 (from 17.20).

Most key sectors made losses. The largest downturn was in Consumer goods and retail, the sector index of which fell 9.62%. Telecommunication and Industrials climbed down a respective 8.88% and 8.18%. The largest gain in Chemicals is 3.18%

The Blue Chip Index decreased 3.42% to 9,828.99 (from 10,176.90).

The Second Tier Index depreciated 0.94% to 3,081.37 (from 3,110.74). The Broad Market Index lost 3.23% to 1,029.03 (from 1,063.42).

MICEX & RTS Indices: Moscow Exchange's main indices

In January 2014, Moscow Exchange's indices reflected the negative trend on the Russian stock market. The MICEX Index was down 3.30% to 1,454.45 (from 1,504.08 on 30 December), while the dollar-denominated RTS Index fell 9.82% to 1,301.02 (from 1,442.73).

The MICEX Index on 31 January was down 5.97% YoY (from 1,546.76). The RTS Index was down 19.80% YoY (from 1,622.13).

The RTS Index's decrease last month was accompanied by a increase in volatility, with the Russian Volatility Index (RTSVX) up 46.45%.

The turnover of securities included in Moscow Exchange's indices was RUB 665.50 bin, and their market cap totalled RUB 20,799.92 bln.

Of the 50 MICEX Index constituents, 39 constituents of the MICEX Index list pulled the index down (falling a total 4.20%), while 11 incurred gains (totaling 0.90%).

On the sector level, the major negative impact was from financials (down 1.46%) and telecoms (falling 0.71%).

The largest negative impact on the MICEX Index was from prices falling for ords of Sberbank (down 0.86%), MTS (off 0.60%) and Magnit (down 0.58%).

The largest positive impact was from price gains by ords of Gazprom (up 0.66%) and shares of a foreign issuer Polymetal International plc (up 0.07%).

The largest negative impact on the RTS Index was from prices falling for ords of Sberbank (down 1.71%),

LUKOIL (off 1.20%) and Magnit (down 0.96%). The largest positive impact was from price gains by RDR of Rusal (up 0.04%) and ords of PhosAgro (up 0.02%).

Oil & gas accounted for 49.50% of the MICEX Index's total capitalization. The other heavily weighted sectors were financials (20.62%) and metals and mining (8.64%).

Blue Chip Index

The Blue Chip Index fell in January.

It was down 3.42% MoM to 9,828.99 (from 10,176.90), and down 7.30% YoY (from 10,602.53).

Of the seventeen securities included in the Index list, sixteen were pulling the Blue Chip Index down at the end of the month (falling a total 3.42%), while one made gains (totaling 0.76%).

The largest negative impact on the index was from prices falling for ords of Sberbank (down 1.00%) and MTS (off 0.70%).

The positive impact was from price gains by ords of Gazprom (up 0.76%).

The oil & gas sector accounted for 55.30% of the Blue Chip Index's total capitalization. The other large weight sectors were financials (22.84%) and consumer goods and retail (6.87%).

Broad Market and Second- Tier Indices

The Second Tier Index fell 0.94% during the month to 3,081.37 (from 3,110.74). The Broad Market Index fell 3.23% MoM to 1,029.03 (from 1,063.42).

The Second Tier Index was down 14.18% YoY (from 3,590.52). The Broad Market Index was down 6.21% YoY (from 1,097.11).

Of the fifty securities included in the Second Tier Index list, thirty were pulling the index down (with losses totaling 3.29%), while twenty made gains (totaling 2.35%).

The largest negative impact on the Second Tier Index was from losses by prefs (down 0.43%) and ords of Nizhnekamskneftekhim (off 0.41%).

The heaviest negative impact on the Broad Market Index was from ords of Sberbank (down 0.86%) and Magnit (off 0.59%).

The largest negative impact on the Second Tier Index was from electric utilities (down 1.26%) and consumer goods & retail (off 0.46%).

Electric utilities accounted for 33.48% of the Second Tier Index's total capitalization. The other heavily weighted sectors were consumer goods & retail (17.51%) and chemicals (15.92%).

Index Derivatives

The total trading volume in index futures and options on Moscow Exchange's Derivatives Market in the January 2014 was RUB 1,950.50 bln, or 20.86 mln contracts.

Last month's trading volume in RTS Index futures, which is the most liquid contract on FORTS, was RUB 1,579.95 bln, or 16.95 mln contracts.

The RTS Index futures contract traded in backwardation last week. The RTS Index lost 9.82% MoM, while the March and the June futures were down a respective 10.11% and 9.44%.

Open interest in RTS Index futures increased 41.89%.

Turnover in MICEX Index futures was RUB 16.80 bln, or 112.94 thousand contracts. Open interest in MICEX Index futures increased 68.29%.

The trading volume in options on RTS Index futures totaled RUB 353.66 bln, or 3.80 mln contracts. Open interest was RUB 229.02 bln, or 2.43 mln contracts. Puts made up 67.63% of the total open interest. The 140,000 strike calls and 130,000 strike puts had the highest open interest.

The open interest in options on RTS index futures rose 76.76%.