83% of MOEX stocks finished in the red. But the damage wasn‘t evenly distributed – and that‘s where opportunity lies.
The first half of 2026 is in the books. The MOEX Russia Index lost 15.1% – its worst six‑month performance since the immediate post‑invasion crash of 2022.
But beneath the headline numbers, a more nuanced story emerges:
- Financials held up best – down just 1.7%, with MKB (+40%) and DOM.RF (+22%) leading the charge.
- Metals, real estate, and consumer sectors – all fell 25% or more. ALROSA (-49%), Samolet (-69%), and Magnit (-38%) were among the biggest losers.
- Only 8 stocks in the entire MOEX Index finished positive – and just 3 of them are non‑financial.
In our latest analysis, we break down:
- Why the ruble crushed exporters
- How Sberbank managed to stay positive (+3.2%)
- Which sectors could rebound fastest in H2
- The three catalysts that could trigger a rally