"That the assets are underestimated is good news, actually," Alexei Logvin, of the Interfintrade investment group, said, adding that "the President's address created a positive background" to the trading session.
Analysts said the shares had also been pushed up by resurgent world oil prices and the Russian government's announced decision to liberalize the shares of the natural gas monopoly Gazprom, lowering the "ring fence" that differentiates between the value of local shares and foreign traded shares.
Oil bluechips were the major driving force behind the market's surge Tuesday. Lukoil's shares rose 3.17% at the mid-session, Sibneft's by 5.43% and Surgutneftegaz', 3.92%.
Gazprom shares jumped 3.23%. The utility giant Unified Energy Systems (UES) saw its shares advance 1.47% amid reports about the planned sell-off of non-core assets.
The RTS index rose by 2.11% to 974.94 points. Analysts predict it will surpass the 1,000 point mark in late September or early October, due to investor interest in telecom shares as well as oil shares.
