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Markets

Russia: Moscow Exchange

The main market for private investors in Russia: 42.7 million people had brokerage accounts as of September 2026. Indexes, the largest stocks and bonds since 2013; the candles load straight from the exchange.

InstrumentPriceMonthYear to dateYearCAGRWorst drawdownRegime3 years
MOEX Russia IndexIMOEX · price index———————
MOEX Russia Total ReturnMCFTR · total return index———————
Russian Government Bond TR IndexRGBITR · total return index———————
SberbankSBER · price without dividends———————
GazpromGAZP · price without dividends———————
LukoilLKOH · price without dividends———————
RosneftROSN · price without dividends———————
NovatekNVTK · price without dividends———————
NornickelGMKN · price without dividends———————
TatneftTATN · price without dividends———————
PolyusPLZL · price without dividends———————
YandexYDEX · price without dividends———————
MagnitMGNT · price without dividends———————
MTSMTSS · price without dividends———————
AeroflotAFLT · price without dividends———————
Moscow ExchangeMOEX · price without dividends———————

The numbers are calculated in your browser from fresh source candles.

“CAGR” is the average yearly price growth over 10 years (over 5 or 3 years if the history is shorter). Drawdown is the worst over the whole history of the series. Regime is the rule of the 10-month average and the one-year change. Without dividends unless stated otherwise. The candles load in your browser straight from the source: exchange terms do not allow their quotes to be redistributed from another server.

How it works

  • Trading takes place on the Moscow Exchange through a broker; since March 2025, stocks also trade on weekends.
  • The MOEX Russia Index covers about 40–50 of the largest stocks, in price terms. The MCFTR total return index adds reinvested dividends, and the RGBITR index tracks the total return of Russian government bonds (OFZ).
  • The dollar and the euro have not traded on the exchange since June 2024; the official rate is set by the Bank of Russia and is in the Commodities and currencies section.

What moves prices

  • The Bank of Russia key rate. It came down from 21% (spring 2025) to 14% (July 2026); on 23 October 2026 the rate was left unchanged, with a warning that tight conditions may be needed for longer.
  • Oil, gas and metals: most of the index is commodity companies.
  • The ruble exchange rate, sanctions and news about negotiations: exports, access to capital and investor mood depend on them.
  • Dividends: on the ex-dividend date, a stock’s price falls by roughly the size of the payout.

Stocks vs bonds

  • In price terms, the MOEX Russia Index has grown by about 4% a year since 2013, and the RGBITR government bond index by almost 7%.
  • With dividends, stocks look better: the MCFTR index has grown by about 10% a year since November 2016.
  • On 30 October 2026, 10-year OFZ yielded 16.6% a year (Bank of Russia curve) with inflation at 6.35% for September: a high real rate on bonds.

Risks

  • Concentration: a few industries and companies drive the index.
  • Sanctions and geopolitics: sharp falls on news, as in February 2022, when stock trading was halted for almost a month.
  • The MOEX Russia Index lost as much as 55% (by autumn 2022); at the end of October 2026 it is 41% below its October 2021 peak.
Sources (6)