By John Meyer, financial consultant. Eurasia Business News, September 20, 2022
The main trading session on the Russian stock market ended with a fall of 8.84%. This is a record decline since February 24, the day of the beginning of Russia’s military special operation in Ukraine.
By the close of the main trading session, the Moscow Stock Exchange index sank to 2215.67 points (the minimum indicator recorded for the day is 2171.92 points), follows from the trading data. Since the beginning of the year, the index has sunk by 41.5%. The dollar index RTS fell by 9.31% (to 1154.17 points).
Among the leaders of the decline: Polymetal (-12.3%), OZON (-11.4%), Surgutneftegaz (-10.8%, -5.3% – prefs), Yandex (-10.8%), LUKOIL (-10.5%) and Gazprom (-10.4%).
The collapse of the market occurs against the background of the announcement of referendums on joining Russia in the separatist republic of Luhansk, Donetsk and Ukrainian territories controlled by the Russian army. The international community condemned the announcement of the referendums, to be set from September 23 to 29.
The Russian State Duma also approved today a bill that deals with martial law, mobilization, desertion, surrender and evasion of military duties.
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