Russian stock market makes modest upward correction
MOSCOW. Jan 27 (Interfax) - The Russian stock market made a small upward correction on Wednesday following world markets. The modesty of the market's performance was the result of negative U.S. stats on new home sales. As a result the MICEX Stock Exchange could not top 1,400 points.
Benchmark stocks on the MICEX edged up by 0.47% to 1,391.25 points while the RTS Index crept up by 0.14% to 1,446.36 points.
Futures on the RTS Index topped the base asset by 7.5 points, indicating a generally positive mood among investors.
The advancers for the day were Gazprom , up 0.4% on the MICEX, VTB - 1.4%, Lukoil - 0.5%, MMC Norilsk Nickel - 0.7%, Tatneft - 0.7%, Sberbank - 0.9% and Polyus Gold - 0.2%.
Decliners for the day were Surgutneftegas , down 1.4%, Gazprom Neft - 0.04% and Rosneft - 1.9%.
Posting gains among second tier stocks on the MICEX on Wednesday were IDGC North Caucasus , up 13.3%, OGK-1 - 9.4%, Seventh Continent - - 7.5%, RusHydro - 5.2% and TGK-1 - 4.7%.
Posting losses were Pharmacy Chain 36.6 , down 10%, VSMPO-Avisma - 1.4% and Vozrozhdenie Bank - 1.2%.
Total Classic RTS Trading for the day came to $8.572 million, RTS Standard - $612.7 million and MICEX Stock Exchange deals - 62.174 billion rubles.