Non-residents from 'friendly' countries and unqualified retail investors were the main buyers of shares on the Russian market in July, according to the Bank of Russia's 'Financial Market Risks Review'.
Non-residents switched from net sales to net purchases in July, buying securities worth 15.3 billion rubles (the largest volume since November 2020).
Retail investors were traditionally the largest net buyers of shares, purchasing shares worth 24.4 billion rubles. Of this, 23.4 billion rubles came from unqualified investors, and 0.4 billion rubles from 'quals'.
The main net sellers in July were non-financial organizations (NFOs) under trust management, which sold shares worth 37.9 billion rubles (a record sales volume for this category of participants since 2020). Systemically important credit institutions (SZKOs) also sold shares worth 22.7 billion rubles.
In July, the negative trend on the stock market persisted, with a positive correction emerging at the end of the month, the Central Bank recalls. This occurred amid ongoing geopolitical tensions, sanctions pressure, a difficult situation on the fuel market, and rising rates in the debt market.