MOEX Russia Index dips as tech and mining stocks face sharp losses

The MOEX Russia Index saw a decline during trading hours. By 1:28 p.m. Moscow time, it had dropped by 0.79% to 2,225.81 points. Earlier in the day, the index had reached 2,278.28 points before the fall. Several major Russian companies experienced stock price changes. NLMK’s shares fell by 4.2%, while Alrosa saw a similar decline of 4.2%. PhosAgro suffered a larger drop, with its stock decreasing by 5.6%. VK’s shares also tumbled by 3.7% after Apple removed its services from the App Store.

Not all stocks performed poorly. Ozon’s shares rose by 0.3%, matching Lenta’s gains. Lukoil’s shares increased by 0.9%, and Positive Technologies saw a stronger rise of 2%. The MOEX Russia Index closed lower after a day of mixed performance. Some stocks, like VK and PhosAgro, faced significant losses, while others, such as Positive Technologies and Lukoil, ended with gains. The market reflected both declines and modest recoveries.