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Russia Stocks Slip as Power, Telecom, and Mining Sectors Drag Market Lower

Russia Stocks Slip as Power, Telecom, and Mining Sectors Drag Market Lower. Source: Photo by Kindel Media

Russian stocks closed lower on Sunday, with the MOEX Russia Index falling 1.27%, driven by declines in the power, telecom, and mining sectors.

Among the top gainers, OK Rusal MKPAO (MCX:RUAL) rose 2.01% to 42.17, while Aeroflot PJSC (MCX:AFLT) added 1.73% to 75.10. T Tekhnologii MKPAO (MCX:T) also saw an uptick of 1.38%, closing at 3,414.80.

On the losing side, Unipro PJSC (MCX:UPRO) dropped 5.39% to 2.10, making it the session’s worst performer. Rostelekom PJSC (MCX:RTKM) slid 2.08% to 71.04, while Magnitogorskiy Metallurgicheskiy Kombinat PAO (MCX:MAGN) fell 2.05% to 40.07.

Market sentiment remained cautious, reflected in the Russian Volatility Index (RVI), which edged 0.54% lower to 49.90.

In commodities, gold futures for April delivery slipped 0.43% to $2,914.10 per ounce. Meanwhile, crude oil prices rose, with April WTI crude gaining 1.02% to $67.04 per barrel and May Brent crude increasing 1.30% to $70.36 per barrel.

In forex, the USD/RUB weakened 1.04% to 89.06, while the EUR/RUB remained unchanged at 97.48. The US Dollar Index Futures fell 0.21% to 103.81.

With mixed performances across sectors and volatile global market conditions, investors remain watchful of upcoming economic indicators and geopolitical developments.

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