The dynamics of trading on the Russian stock market on Wednesday, March 30, were upward, and the main driver was the positive dynamics of futures for American indices, while oil prices faded into the background.

The dynamics of trading on the Russian stock market on Wednesday, March 30, were upward. During the first minute of the trading session, the MICEX index grew by 0.8%. The main reason was the moderately positive external background that established before the start of the session, and the driver was the positive dynamics of futures for American indices, while oil prices faded into the background.

According to the head of the stock market analysis department at IFD Kapital, Konstantin Gulyaev, a positive mood remains on the Russian stock market, even despite the fact that oil prices have been staying close to the achieved levels for more than a week. The growth of Russian indices resumed, and the correction attempts that took place on Tuesday were not supported by world markets, where the rise continued. As a result, after Tuesday's correction, the Russian market looks better than most others, showing confident growth in almost the entire range of securities.

“The S&P index once again ignored not very good macroeconomic statistics. At the same time, trading volumes on American exchanges remain low. Apparently, players are waiting for the end of the quarter and the publication of US labor market indicators, which is scheduled for Friday, April 1,” believes K .Gulyaev. He recalled that on April 11, the period for publishing financial statements of American companies will begin, which will become another test for the market. “If a positive scenario develops on the stock exchanges, the nearest resistance level for the MICEX index will be the level of 1850 points, to which it may well rise. In general, the upward trend continues, although in the coming days we do not rule out profit-taking on the stock market,” the expert emphasized .

As Andrey Vernikov, Deputy General Director for Investment Analysis of Zerich Capital Management, points out, the resistance level of 1820 points on the MICEX index is unlikely to be overcome in the near future. According to his calculations, this will happen in early April, when the situation with monetary liquidity improves. American indices have again settled into an upward trend, so the chances of the MICEX index rising to 1850 points are good.

“Index-forming securities will be leading the growth: Sberbank , Norilsk Nickel , Gazprom . In the second ten days of April, after the ECB meeting on April 7, a pause in growth is likely, but until the price of Light Sweet oil breaks down to $98 ./barrel, its correctional decline is unlikely,” the analyst believes.

Director of the asset management department of Maxwell Capital Management Sergei Usichenko believes that the news about the downgrade of Portugal's sovereign credit rating, in fact, did not cause a decline on European stock exchanges. This indicates a large amount of free cash among players who continue to invest it. Thus, growth may continue in the future both on American, European and Russian stock exchanges. The expert does not rule out that the indices will add another 2-3%. However, it must be taken into account that current prices are likely to be at their highest this year.

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Analysts' forecasts: The market is waiting for the end of the quarter