OREANDA-NEWS. On 19 August 2008 was announced, that during the week of August 11 – August 15, 2008 the Russian stock market experienced a rise in prices for the majority of its securities, however the resistance level of 1800 points was not been beaten yet. 

The RTS Index (RTSI) rose to 1785,36 points (by 3,64%) from 1722,71 points as of August 8. By the end of the week RTSI was 17,89% lower compared to one month ago (2174,22 points on July 15th), however it was 5,38% lower compared to one year ago (1886,83 points on August 15th, 2007).

Out of RTSI’s total 50 constituents, 25 had positive impact on the Index (+76,1 points overall). 21 securities behaved negatively   (-4.18 points). The price for 4 securities remained unchanged.

Most of the positive impact on the Index was from prices for ordinary shares of Gazprom (+19,41points),   Sberbank of Russia (+12,96 points) and OJSC Uralkali (+6,51 points).

Negative push last week was coming from the ordinary shares of Silvinit (-4,29 points) and JSC "NOVATEK" (-2,68 points).

More than 50 % of the RTSI total capitalization is still concentrated in the oil and gas sector. The other major contributors are the banking and finance sector – (18.7 %) and metallurgy – (15.5%). 

On the sector level, oil and gas influenced the RTSI most of all (+ 32,5 points), followed by the banks (+13 points) and metallurgy (+12,5 points).

RTSI Futures Contracts

The weekly trading in RTSI derivatives amounted to RUR 176,5 billion, or 2,0 mln contracts. At the moment, futures on RTSI remain the most liquid contract on the Russian stock market making up more than 65,2% of the total FORTS (Futures and Options of the RTSI) turnover in money terms.

Over the week, RTSI rose by 3,64%, with the September contracts increasing in price by 5,30 %, and December contracts - by 5,06%.  The September futures were traded with positive results, closing in contango 18,84% higher than the RTSI, the main indicator of the Russian stock market. December futures were traded higher than the underlying asset and closed 48.84% higher than RTS Index.  The investors’ interest towards the September future contracts remained high last week. The total volume of open interest on index futures decreased last week by 12.2%.

Second-tier stocks

For the week of August 11 – August 15, 2008 most of the second tier stocks demonstrated a drop.  For the week RTS-2 Index shrank by 2,52% to 2034,39 (2087,08 as of August 8, 2008). At the end of the week RTS-2 17,20% lower than it closed a Index was month ago (2456,95 points as of July 15), and closed 3,08% lower than a year ago (2099,12 points as of August 15, 2007). 

Of the 76 constituent stocks, 39 had  negative impact on RTS-2 dynamics (minus 74.4 points in total). Only 19 stocks behaved positively (plus 21.17 points). The price for 18 securities remained unchanged.

Most negative impact was related to the falling prices of ordinary shares of Silvinit (minus 29,77 points).

Ordinary shares of OJSC "Magnit" (+4,09 points) and JSC "TGK-5" (+2,52 points) were the stock with the most positive impact on RTS-2.

Power industry has the largest weight in RTS-2 (17.1 %), followed by (13,7%), consumer telecommunications goods and trading (12,6%), industrial sector (11.2%). 

Most of the RTS-2 Index drop was accounted for by securities of the chemical production sector (-30,54 points) and industrial sector (-9,84 points).    

The RTS family of indices.

Last week a bounce, following the huge market decline was replaced with a positive dynamics. RTS Index lingers around the level 1800 points.  the RTS – Metals and Mining: it grew by 4.31%. It is followed by oil and gas The biggest growth was registered in sector: RTS Oil & Gas rose by 3,36%. Only industrial sector was marked by a negative trend in trading: the drop stood at 4,13%.