The ruble-denominated MICEX index closed Tuesday at 1561.93 points, up 1.49% from Monday, while Russia's benchmark dollar-denominated RTS index rose a similar 1.49%, to 1763.66 points.
Most "blue chips" closed in the positive - Gazprom shares gained 1.63% (RTS) and 1.41% (MICEX), LUKoil 2.37% and 2.40%, respectively, and Sberbank 0.72% and 0.87%, respectively.
Dmitry Golubkov, an expert at the Aton-Line investment company, attributed the upward correction to such factors as growth on Asian stock markets, particularly in China, where the steep dive began last week.
The expert also mentioned rising nickel and copper prices, and an upward trend in oil prices.
He said that an incident at one of the Royal Dutch Shell pipelines in Nigeria had led to an output shortage thereby affecting oil price dynamics.
However, the expert warned that the Russian stock market could continue falling for another several days if institutional investors began selling more in order to adjust their portfolios to reduce risks.
Vadim Suvorikov of Econatsbank attributed Tuesday's rise in most of Russian shares to a classical short-term technical correction upwards, which could precede a further drop.
"The current technical situation implies a further downward trend in the short term, with rock bottom at 1650 points on the RTS, where the market is likely to level off before starting to rise again," he said.
