Russian Stock Market Soars after a Month-Long Hiatus

The MOEX Russia Index closed at 2,470.48 points on February 25, 2022, its last trading day before a hiatus that ceased trading sessions since then as the war on Ukraine kept on progressing. 

33 securities in MOEX are now back on a limited time trading session with short selling banned, including some of the biggest companies such as Gazprom PJSC and Sberbank PJSC, between 9:50 a.m. and 2 p.m. local time.

MOEX Index was up 8.91% to 2,690.57 points. Nearly 30 minutes after the opening bell, the share price of Aeroflot dropped 5% to RUB34.88. Gazprom jumped 20.14% to RUB273.91, while Sberbank Rossii increased 18.72% to RUB155.66. Novatek rose 24.70% to RUB1,402.80. Lukoil hiked 16.21% to RUB5,711.5.

Meanwhile, foreign investors are unable to sell stocks or OFZ ruble bonds until April 1.