New money flowed into the Russian stock market

After a small morning drawdown, the Russian stock market managed to get out yesterday in the plus, adding 0.4% by the end of the day. This was largely due to good data on inflation in the US: the growth of the core indicator became the minimum for the last 4 months. Now fears that the Fed will soon start winding down its stimulus program to keep prices from rising have eased a bit. The US broad markets on this once again rewrote all-time highs.

Judging by the fact that the main demand was again concentrated on highly liquid shares, the Russian market is getting fresh money, most likely it is foreign investments. But it is still hard to say until when non-residents will buy Russian shares.

Today the external background before the opening of our trades is neutral. American futures are trading in a symbolic minus, the dynamics of metals are multidirectional, oil is frozen around 71.4 dollars per barrel.

So we'll have a neutral opening. And then, as always, we will follow the external background.

Yesterday correction started in . But it did not develop, technical overboughtness from the shares has not been removed. We expect Sber to trade worse than the market for some time, but on drawdowns the stock should be bought with medium-term targets. We will see Sber at least at 350 rubles this year.

VTB also looks overbought, where profit taking may be sharper when the occasion arises. The paper fixed above 5 kopecks, now the first target of growth is 5.55 kopecks. And this price we will see.

It went to the support area, which has been unjustifiably forgotten lately. The technical rebound is simply necessary. Maybe today the paper will react to the growth of nickel prices at 1.6%.

Attempts to reverse from the support of 1720 dollars per ounce shows gold. The metal is clearly correlated with the dollar exchange rate, which yesterday weakened slightly on positive statistics, but does not intend to continue the downward movement. Risky investors can try to buy gold futures with a stop just above $1700.

Encouraged by moderate inflation in the US, the ruble rose by 0.7% against the dollar. Positive for the Russian currency is also a decrease in demand for the dollar as a result of the completion of the conversion of dividends from .

However, today in the morning the ruble is in no hurry to build on its success, although the ruble exchange rate usually grows in the morning session. Today, the fundamental picture of the dollar-ruble pair will not change - it will remain in the range of 73-74.