Russian stock market makes downward correction, MICEX slips below 1,790 points
MOSCOW. March 30 (Interfax) - Russia's stock market made a downward correction on Tuesday owing to profit-taking on the part of investors after several days of growth. As a result, the MICEX Stock Exchange slipped below 1,790 points. However, the day's losses were smoothed out by price stabilization on oil and U.S. exchange results.
Benchmark stocks on the MICEX went down by 1.26% to 1,788.14 points while the RTS Index fell by 1.29% to 2,018.74 points.
Decliners for the day were VTB , down 1.7%, Gazprom - 0.7%, Gazprom Neft - 2.1%, MMC Norilsk Nickel - 1.6%, Lukoil - 1.6%, Polyus Gold - 1.3%, Rosneft - 2.5%, Rostelecom - 2.4%, Surgutneftegas - 1.4% and Tatneft - 1.2%.
The main advancer for the day was Sberbank , up 0.03%.
Posting losses among second tier stocks were Vozrozhdenie Bank , down 4.4%, Belon - 3.9%, OGK-4 - 3.3%, Raspadskaya - 3.2%, Inter RAO UES - 2.9%, Razgulay - 2.7% and TGK-14 - 2.6%.
Posting gains were RBC Information Systems , up 2.1%, VSMPO-Avisma - 1.8%, O2TV - 1% and Seventh Continent - 0.2%.
Total RTS Classic Trading for the day came to $4.36 million, RTS Standard deals - $394.09 million and MICEX Stock Exchange transactions - over 58.726 billion rubles.