OREANDA-NEWS. Russian stock market is still fed by US Fed rate cut - a positive trend goes on for a week now, Veles-Capital experts say in a stock market review published on the company's web site.

In the view of the experts, though on September 24 RTS continued its climb upwards, ultimately reaching 2050 points, the growth is more of an emotional effect and is highly vulnerable to any statistics from North America. Hence, correction is more and more likely to occur. Major support of index during Monday was received from Norilsk Nickel, Surgutneftegas, LUKOIL and VTB. Company’s shares are supported by high prices over commodities and VTB’s clearing off Eurobonds last week, confirming presence of available liquidity at bank’s disposal, which was expected by investors to bring on roblems. RTS rose 0.79% yesterday, stopping at 2042.2 points. Leaders of turnover were as follows: Norilsk Nickel (+4.59%), Raspadskaya (+4.17%) and Surgutneftegas (+2.63%). Top outsiders were: UES (-0.98%), Rosneft (-0.46%) and WGC-5 (-0.45%). Monday’s trades were decently high: with day’s total value forming 94.42 mn USD, while top volumes were registered over shares of: Gazprom (27.52 mln USD), Sberbank (24.65 mn USD) and UES (9.06 mn USD).

For a week now, Russian stock market steadily goes up. However, negative closing of US stock grounds lately and weak fundamental growth factors are most likely to make market correct downwards.