Russian stock exchange makes downward correction, total losses cushioned by exchange gains in U.S.
MOSCOW. March 22 (Interfax) - The Russian stock market on Monday opened with a downward correction following world markets. However, total losses were cushioned following growth on U.S. stock exchange.
Benchmark stocks on the MICEX Stock Exchange dropped by 0.25% to 1,417.55 points while the RTS Index slipped by 1.24% to 1,525.59 points.
Advancers for the day were Gazprom , up 1.3% on the MICEX, Rostelecom - 0.9%, Transneft - 1.4% and Lukoil - 0.1%.
Decliners for the day were VTB , down 1%, MMC Norilsk Nickel - 1.2%, Rosneft - 1.5% and 3.8% on the RTS, Gazprom Neft - 0.4%, Surgutneftegas - 0.7%, Sberbank - 1.9% and Polyus Gold - 1.1%.
Posting losses among second tier stocks on the MICEX on Monday were North-West Telecom , down 5.5%, IDGC Holding - 3.9%, OGK-2 - 3.6%, Raspadskaya - 2.9%, OGK-4 - 2.8% and Kamaz - 2.3%.
Posting gains were Uralsvyazinform , up 5.6%, the PIK Group of Companies - 3.8%, FGC UES - 2.1%, OGK-6 - 2% and TGK-9 - 2%.
Total RTS Classic Trading for the day came to $17.649 million, RTS Standard - $486.36 million and MICEX Stock Exchange - 52.07 billion rubles.