At the close of the main trading session, the MOEX Index fell 0.65% to 2,241.42 points, while the RTS Index edged up 0.32% to 914.90 points. By 7:31 p.m. Moscow time, the ruble-denominated index deepened its decline to 0.70%.

Investors remain nervous about a possible tightening of monetary policy by the Central Bank and persistent problems in the fuel market, which could accelerate inflation.

According to Kristina Gudym, an analyst at Finam, the MOEX Index is currently in oversold territory on the RSI. She notes that quotes could bounce from levels seen at the end of 2022 — around 2,160 points. In the event of a recovery, the 2,432.9-point level may act as resistance.

The biggest decliners today were Transneft preferred shares, which fell 4.43%. Analysts at Vektor Capital emphasize that this was the worst day for these securities since spring 2025, with the drop reaching nearly 7% at one point in the absence of any news.

Experts note that the market perceives Transneft shares as a quasi-bond instrument due to stable dividends (consensus around 180–200 rubles per share in 2025). They suggest that the sharp decline could have been caused by the closure of a large position by a bank or fund, but recommend monitoring the situation closely: if dividend expectations are not met, pressure on quotes could intensify.

Among the laggards were again Pharmasyntez shares, which lost 4.07%. As previously noted by Natalya Milchakova, lead analyst at Freedom Global, the company's high debt burden and creditor lawsuits continue to weigh on the stock.

MGKL shares (-8.92%) corrected after rising about 10% the previous day on news that the board of directors approved a share buyback program on the open market worth up to 897 million rubles. The initiative also allows for the repurchase of bonds.

Other notable decliners include Mechel preferred shares (-4.29%), Positive Technologies (-3.16%), and Ozon (-2.88%). Among the leaders were MKB (+2.56%), FESCO (+2.25%), and ALROSA (+1.44%).

The ruble remained stable: the nearest dollar futures contract rose 0.20% to 79.059 rubles, while the yuan exchange rate increased 0.24% to 11.49 rubles.

In commodities, Brent crude rose 0.21% to $71.95 per barrel, while WTI fell 0.10% to $68.62.