Stock market review for December 14, 2021

The week on domestic stock platforms started with a sharp fall. It was headed again by shares of Akron (AKRN 12,102, -10.04%). The leaders of the growth among the most liquid securities without news were shares of St. Petersburg Stock Exchange (SPBE 1,029.1, +0.70%). The USD/RUB pair was trading near 73.5.

(SBER 281.6, -5.33%), VTB (VTBR 0.043615, -5.05%), (YNDX 4,564, -2.14%) and several other major companies have rolled back to their lowest since April. The Moscow Exchange Index fell to its lowest level since early May, losing 15% from its all-time high of two months earlier.

The deep correction was due to the negative dynamics on the stock exchanges of many countries, especially - those belonging to EM. The main sellers of shares this year were non-resident funds, while buyers were local investors.

We believe that despite the strength of the fall, the market has high chances to finish the week with growth. Many securities look attractive for purchases at current levels. Shares of banks, MTS and IT-sector can demonstrate growth first of all.

(MAIL 911.4, -7.62%), spec. buy, target: 1300 rubles. We believe that the sell-off of VK securities is coming to an end and a short-term but sharp speculative rebound is likely.

We expect mixed dynamics. Forecast for the USD/RUB pair: 73.00-74.00 corridor. Mosbirch index is able to rebound to the range of 3650-3700 points.