Stock market review for May 4, 2021

The week ended with decrease. The market was better traded (VTBR 4,996.2, +3.32%). Outsiders were (NVTK 459.0, -7.57%). USD/RUB closed above 75.

The dynamics on the external sites and news are being played out. The beginning of the week will be in the mode of non-working trading days. We forecast rather high activity, though lower than usual. In this case the dynamics is fully determined by the external signals because there are no important events on the local market, while the earlier planned reports may be postponed till the next week. External background is calm. There are no important statistics to be released today. Tech sector companies are declining on the back of the corporate reports. Oil rose above $67. It is premature to make forecasts about high probability of correction of Russian market in May.

(YNDX 4,926.4, -2.26%), spec. buy, target: 5,500 rubles. The market reacts positively to the strong reporting and the news about the bank purchase, the effect of which may be noticeable already in Q3. The IT giant intends to expand its activity on the fintech market.

We expect mixed dynamics. Banks and oil and gas companies will lead the growth. USD/RUB will trade in the range of 74.50-75.50. Benchmark for the Mosbirch Index: 3550-3600 points range.