What mini slow motion action had to laid Russian authorities on the Moscow Stock Exchange?

At the moment, trading on the mosserier pass with restrictions. Main restrictions:

That is, these 2 strong factors can move quotes down. Therefore, it is safe to say that the picture that we now see is a non-market and biased.

Of course, it is clear why these restrictions introduced, these are all capital control measures that provide stability to the current moment.

And with these measures, almost all financiers agree, but it should be understood that in the future the market should be completely free from various restrictions, then it will be fully objective.

In the meantime, we have a huge number of non-residents that are welcomed at the first opportunity.

Why do non-residents be sure to sell shares?

Because most funds work in accordance with the regulations for which they are required to get rid of the shares in the event of a non-compliance with the established requirements for credit ratings and indices.

Almost all Western providers announced that they exclude Russia from all their index funds. And, of course, the image is now in Russia such that even the Western private investor will be afraid to keep Russian assets.

What share of the Russian market control non-residents?

In general, according to the Russian market, it is possible to give such an alignment: 18.5% of the shares belong to the state, 47.5% belongs to the largest Russian capitalists and strategic foreign investors, 34% are in the free appeal (Free Float, from them non-residents own at least 70 -72%).

And the biggest position of non-residents in Sberbank and Gazprom. In the blue chips, they invested in the total amount of about 110.5 trillion rubles. Imagine what will happen if the global sale begins?

At the same time, 1 trillion rubles was allocated to support the Russian Stock Exchange of Russia from the FNB funds - it is 10 times less than the volume owned by non-residents.

Renaissance Managing Director Capital - Maxim Orlovsky noted that in blue chips the proportion of non-residents in Free Float is 50-90%.

Table with a fraction of non-residents on the mosserge.

From this table, we can conclude that if we have a high proportion of non-residents in the company from the total number of shares in free circulation, then the share price can critically decrease when the restrictions on the sale of non-residents are abolished.

It turns out, now it is impossible to buy shares on the Moscow Stock Exchange?

You can buy. The main thing to adhere to your strategy, for example, you can make purchases once a month for a certain amount. Thus, you still get the average value in the long-term.

And what if non-residents are not going to release at all? Then you miss the most bullish segment on the mosbier.

When will be released non-residents?

In general, in response to the freezing of its reserves, Russia also introduced restrictions on the movement of funds that could be listed in unfriendly countries on a comparable amount.

That is, when they unlock the gold and coating reserves of Russia, then non-residents and will be released. But there is no longer likely that it will happen soon.

Western countries have already released genie from the bottle and undermined confidence in their system. Therefore, the ban on the sale of non-residents is absolutely fair and is a mirror response.

Today, thanks for your attention!

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