Analysts Say Russian Stock Market Set For Further Rise

A rise is observed on the Russian stock market at present and this tendency is accompanied by consolidation. There are buyers of Russian oil, gas and energy shares, however, they are mostly domestic market participants, an official from the CenterInvest Securities reported in an interview with RBC. He believes that prices for Russian shares may rise 3 or 5 per cent but no more because no new investors are expected to enter the market in near future. The analyst stressed there are no serious reasons for the further rise and the RTS index will not surpass a level of 190 or 195 points. He expressed his dissatisfaction with the fact that the Russian stock market is strongly dependent on the situation on other emerging markets. This testifies that traders are uncertain about outlooks of the market. Another factor that plays an important role on Russian stock exchanges is the situation on international oil markets. In the event the situation with oil prices stabilizes soon the Russian stock market may stabilize too.