Russian stock market rebounds in Wednesday correction
MOSCOW. March 27 (Interfax) - The Russian stock market fell during the day Wednesday along with world trading floors, but by evening things had turned around and the market ended the trading day up amid the closing of 'short' positions.
The MICEX closed up 0.6% at 1425.0 points, the day's low having been 1407.36 points, and the RTS index had edged up 0.04% to 1446.04 points.
Lukoil gained 1.6%, Novatek was up 1.4%, Norilsk Nickel 0.3%, Polyus Gold 2.4%, Rosneft 0.4%, Surgutneftegas 2.7% (preferred shares up 1.6%), Tatneft 2.1%, and Federal Grid Company UES 3.5%.
VTB lost 1.5% to 4.825 kopecks, its lowest point since September 2009, Gazprom slid 0.2%, Gazprom Neft 0.8%, and Sberbank of Russia 0.3%.
On the Moscow Exchange's second tier, Sollers was up 4.1%, RusHydro gained 3.9%, IDGC Holding 3.6%, and RAO Energy Systems of East 3.4%.
Mosenergosbyt slumped 5.3%, OGK-5 lost 3.7%, Irkutskenergo 2.3%, TGK-1 2.1%, Severstal 2%, and Razgulyai Group 1.7%. The bank Vozrozhdenie fell 4.2%.
Combined trading on the MICEX exchange's main market amounted to 37.007 billion rubles on the day (with 12.14 billion rubles involved in trades with Sberbank ordinary shares), on the Standard sector to $42.264 million, and on the Classica sector to $1.398 million.
