Experts have predicted a change in the Moscow Exchange index

A decrease in the index to the level of 2,900 points is possible, but positive results of negotiations between the Russian Federation and the United States can quickly return the Moscow Exchange index to the level of 3,200-3,300 points. This opinion was shared by Alexander Bakhtin, investment strategist at Garda Capital, and Valentina Savenkova, project Manager at VELES Capital, in an interview with Izvestia on March 31.

Earlier in the day, the Moscow Exchange index (MOEX) dropped below 3,000 points, according to the trading platform.

"The Russian stock market continues to be undervalued by the P/E multiplier (price-earnings), lagging behind historical averages by about 50%. At the same time, the prospects of companies vary by sector, and each stock has its own fair price levels and growth potential," Bakhtin said.

According to him, the level of 3,000 points on the Moscow Exchange index is a significant support area. In order for the index to leave and gain a foothold below this level, further deterioration of external factors is necessary. However, one should not exclude the possibility of a deeper correction approaching 2,900 points. At the same time, positive news about the negotiations between the Russian Federation and the United States can quickly return the benchmark to the range of 3200-3300 points.

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"The Moscow Exchange index has been in a downward correction phase for the sixth week after the growth, which was caused only by unsupported positive expectations on both the economic and geopolitical background," Savenkova said.

According to the expert, at the level of 3,000 points, there are attempts to stabilize the market, which serves as a powerful support zone for the index. This level will have a significant impact on the further development of the situation: if the index manages to stay at it, then several weeks of fluctuations in the range of 3000-3200 points will be most likely, followed by an increase against the background of new positive news. However, if the market drops below 3,000 points, this may lead to a decline to 2,800 and 2,500 points, reinforcing the downward trend.

"In general, the Russian market has fulfilled positive expectations and is no longer ready to grow on the promise of future changes for the better. Now investors are waiting for the facts, and they are highly likely to focus on them when making decisions about buying shares at current levels," Savenkova summed up.

Earlier, on January 16, Oleg Reshetnikov, an expert on the stock market at BCS World Investments, and Natalia Malykh, head of the stock analysis department at Finam, told Izvestia about the consolidation of the Moscow Exchange index at 2,900 points due to the suspension of monetary policy tightening. According to experts, in December, the Central Bank unexpectedly kept the key rate at 21%, contrary to expectations of an increase amid weakening corporate lending. If this trend continues in 2025 and inflation tends to slow down, then the chances of a softening of the PREP will increase.