The Russian Trading System was 0.83 per cent up, to 687.39, by 5 p.m., Moscow time, day's deals close to a lump $16 million.
World stock indices rose yesterday, and Russia followed throughout the day's initial half. Classic RTS section deals came close to $12 million, midday, says Vladimir Detinich of Olma Co.
Circumspect dealers, however, had driven the market into mutually contrasting fluctuations by midday, points out STM-Invest's Mikhail Pak.
Bulls had chief support from Russians, nonresidents sitting on the fence, says Alexei Logvin of Interfintrade Co.
The stock is going up very slowly, with middling deals-possibly, in an anticipation of good news from the TNK-BP, remarked Sergei Kosynkin, Zerich Co. analyst.
It is too early now to think the market will go up again, warns Detinich. He sees the current rise as mere technical correction to stop somewhere close to 690, RTS index.
Anatoli Kaplin of Aton Co., on the contrary, points out two ideas to send stock higher up. First, the Moody's and the Fitch may upgrade Russia's credit ratings after understandings are made with the Paris club. Second, due in May's first half are register closures for many blue chips shortly before shareholders' meetings, and certain dealers are out for dividends and meeting votes.
The Norilsk Nickel came 0.43 per cent down. All the other blue chips disappointed bears to go up from 0.15 per cent, as the Savings Bank of Russia, to 1.91 per cent-the Sibneft petroleum mammoth.
The MICEX, Moscow Interbank Currency Exchange, had Rostelecom 0.5 per cent down, and Norilsk Nickel 0.12 per cent. The other blue chips were slightly up-from 0.79 per cent for the Savings Bank to 1.78 per cent for another petroleum major, the LUKoil.
