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- Bidding is appropriate: the volume of transactions with securities of Russian companies on the St. Petersburg Stock Exchange has increased 44 times over the year.
Bidding is appropriate: the volume of transactions with securities of Russian companies on the St. Petersburg Stock Exchange has increased 44 times over the year.
The St. Petersburg Stock Exchange has published the trading results for September. The value volume of transactions in the main trading mode with securities of Russian companies decreased by 21.67% at the end of the month compared to August. In total, 139.57 billion rubles worth of deals were concluded in September. At the same time, their number increased by 85.82% to 60.67 million transactions compared to the previous month. The decrease in the value of transactions with an increase in their number is due to the fact that more private investors with small amounts have entered the market, experts explain. What will happen to the securities market in Russia is in the Izvestia article.
Results of the month
The St. Petersburg Stock Exchange presented the trading results for September 2025. According to her data, the value of transactions in the main trading mode with securities of Russian companies amounted to 139.57 billion rubles, which is 21.67% less than in August of this year. At the same time, the figure is 44 times higher than the results of September 2024, when the volume amounted to only 3.17 billion rubles.
In total, bidders concluded 60.67 million transactions in September. This is an 85.82% increase compared to August, when 32.65 million transactions were completed.
The share of the weekend trading volume amounted to 3.08% of the total volume for the month (4.3 billion rubles). The weighted average trading volume on weekdays is at the level of 6.15 billion rubles, which is 22.32% less than in August, which was 7.92 billion rubles.
The number of active investor accounts in the main trading mode increased 2.1 times in September, to 1.62 million. In August, their number was 0.77 million.
Currently, 14 issues of digital financial assets worth 6.99 billion rubles are placed in the information system of the St. Petersburg Stock Exchange. A month earlier, the amount was 4.62 billion rubles.
The editorial board of Izvestia sent a request to the St. Petersburg Stock Exchange. No response has been received at the time of publication.
A natural result
The decrease in the value of transactions with an increase in their number in September is due to the fact that more private investors with small amounts came to the market, says Yaroslav Kabakov, Director of Strategy at IC Finam and a lecturer at the Higher School of Economics. The number of active accounts of such investors has increased 2.1 times, says Investment adviser to the registry of the Central Bank, President of the Association of Investment Advisers Yulia Kuznetsova.
— Beginners and retail investors usually make a larger number of small transactions, which reduces the average check, but increases the statistics on the number of transactions, — explains the interlocutor of Izvestia.
At the same time, the share of small speculative transactions increased, while large transactions decreased, Kabakov said.
— The decrease in the average daily trading volume is explained by the weakening of interest in large operations or the redistribution of portfolios in favor of more conservative assets after recent market corrections, — says Denis Astafyev, entrepreneur, fund manager and founder of the SharesPro fintech platform.
Long-term investors lock in profits and transfer assets to more predictable instruments such as bonds and money market funds, according to analysts at IFC Solid.
In addition, September is traditionally the month of portfolio rebalancing before the corporate reporting season, which also encourages frequent but small-scale transactions, adds Kuznetsova.
The low base effect
At the same time, the value indicator turned out to be 44 times higher than last year, which is explained by the low base of September 2024, when activity was minimal, Kabakov notes. Until September 2024, the St. Petersburg Stock Exchange traded only 60 shares of Russian companies, Solid experts remind. After that, it added 85 more issuers for trading, and investors were eyeing new opportunities. Over the past year, the St. Petersburg Stock Exchange has become a more active platform for trading Russian issuers, while maintaining access to a wide pool of foreign stocks and bonds, Kuznetsova agrees.
"And the reduction in the key interest rate and the stabilization of the macroeconomic situation have increased the interest of private investors in the stock market as an alternative to deposits," she clarifies. A significant increase in the number of active accounts confirms the trend towards mass retail involvement.
At the same time, new instruments (including digital financial assets) were introduced on the exchange, as well as trading on weekends, Denis Astafyev lists.
"These steps helped to restore investor interest and trust, which was reflected in a sharp increase in the absolute volume and number of transactions," the expert is convinced.
However, starting from August 2025 until today, the market has been in a state of permanent decline, the Solid press service points out. In recent days, it has been declining almost without correction, which affects the mood of investors and traders, resulting in a decrease in trading volumes.
"The lack of widely understood reasons for the constant decline causes an outflow of investment money into more understandable instruments — money market funds and bonds," analysts believe.
Vague prospects
After a prolonged decline, the market needs a break, analysts at Solid believe. All trading indicators indicate the strongest oversold conditions, so even weak positive signals can lead to explosive growth, they admit.
In October, we can expect continued volatility if the Central Bank leaves the rate unchanged, Yaroslav Kabakov believes. If the Bank of Russia continues the easing cycle, it will support activity. However, external risks will constrain strong growth.
At the same time, the Russian stock and bond market is likely to continue to be influenced by geopolitical factors, the sanctions agenda and fluctuations in the ruble exchange rate, predicts Denis Astafyev. One of the key drivers will be the expectation of the possible adoption of a new package of EU sanctions.
Yulia Kuznetsova, in turn, predicts continued activity in the market — the number of transactions will remain high. However, the trading volume may fluctuate depending on corporate reports, key rate dynamics and foreign markets, she does not exclude.
Algotraders (financial market participants who use computer programs and trading algorithms to analyze markets and automate transactions) and market makers (financial intermediaries who, under an agreement with the exchange, maintain liquidity, price stability and trading volume of certain assets by placing permanent orders for their purchase and sale) will provide liquidity in the morning, believes the interlocutor of Izvestia. In the evening, the activity will be supported by American platforms.
— In general, the market is gradually forming a mature structure: not only the speculative segment is growing, but also the long—term interest of private investors, - says Kuznetsova.
Переведено сервисом «Яндекс Переводчик»
