In the stock market today you can recommend only point purchases

The Moscow Exchange Index rose again yesterday, this time by 0.3%. The main contribution to the rise of the indicator was made by oil and gas securities and the one that joined them, which lagged behind the market lately. At the same time, the shares of Sberbank and VTB closed in the red.

Traditionally, the banking sector shares are the first to start any trend, so their decline is a sign of stronger correctional sentiment. So, it is not excluded that today after 4 sessions of uninterrupted growth and taking into account Friday factor, the Mosbij Index will close with losses.

The external backdrop today is slightly negative: U.S. futures are drifting around yesterday's close, oil is losing interest, and metals are trading multidirectional.

But the drawdown is unlikely to be deep, the market is set to grow and one can feel the inflow of fresh money. The market is in an upward mood and there is a feeling of fresh money in the market. At the same time, the technical picture of the Mosbij Index has significantly improved over the week: the indicator managed to return to the uptrend from the middle of December last year. The support is now located near 3850 points, and if it were not for the upcoming Duma elections, we could recommend to increase positions on the highly liquid shares in this area.

In the meantime, only point purchases can be recommended - Sberbank and ferrous metallurgists. The last ones, by the way, have quite a good decline, we are waiting for their shares to turn up.

Today will be the release of the financial statements. There is no doubt that it will please investors. At the background of quotations we recommend to reduce positions on Rosneft, which, however, refers to the whole oil industry, as there are no drivers for oil growth, while there are risks of its short-term withdrawal to the area of $65.

In the morning session, the ruble is losing 0.2% to the dollar. This is a negative signal, usually in the morning the Russian currency is strengthening. But so far there is no reason for a strong fall of the ruble, and the dollar exchange rate in the world market is stable. In the worst case scenario, the pair USD-RUB will close the week near the mark 74.