Sberbank shares became growth leaders among the most liquid securities

Sberbank shares became the growth leaders among the most liquid securities. On the last day of July, they rose by 6% and updated the maximum since February 18, 2022. The volume exceeded 30 billion rubles, the third result this year. The bullish game of investors is associated with expectations of a “strong report” under IFRS for the half year and news on dividends. Market participants do not exclude the growth of quotations to 300 rubles. and the rise of the Moscow Exchange index to 3300 points.

After a two-month downtime, Sberbank shares began a new week with a sharp rise in quotations. During trading on July 31, the cost of ordinary shares reached 266.33 rubles, having updated the maximum since February 18, 2022. As a result of the main session, quotes stopped at 264.5 rubles, which is 6% higher than on Friday. Preferred shares of the state bank rose by 6.2% to 263.2 rubles.

Growth took place with high activity of investors. The volume of trading in the bank’s ordinary shares exceeded 37 billion rubles, which is many times more than the volume of trading last week and the third largest result this year. The volume of trading in preferred shares exceeded 2.7 billion rubles.

Given the high weight of Sberbank’s shares in the Moscow Exchange index, which is almost 12%, this growth had a positive impact on the stock market. At the end of the day, the most liquid stocks added 0.8-3% in price, while the Moscow Exchange index rose by 2.2% to 3073.5 points, having updated the maximum since February 22, 2022. The total volume of trading in shares from the index amounted to 97.5 billion rubles, the second result this year.

The growth of Sberbank shares is connected with the expectations of the IFRS report for the first half of the year, which will be published on Thursday.

According to the consensus forecast of analysts polled by Interfax, in the second quarter, the state bank earned almost 377 billion rubles. net profit, which is 5% higher than the result for the first quarter of this year.

“Traditionally, a few days before the disclosure of results for large issuers, analysts publish their estimates, and the market often reacts accordingly,” Anna Mikhailova, an analyst at Ingosstrakh Investments Management Company, notes. Valery Yemelyanov, an expert on the stock market at BCS Mir Investments, admits that some details of the document or rumors about it could have entered the market.

Investors are looking forward not only to the publication of financial statements, which may repeat the previously announced good RAS results, but also to the conference for investors. According to the manager of Alfa Capital, Dmitry Skryabin, the forecast for this year may be updated on the bank’s financial indicators, plans for its development, and dividends.

“By the end of the year, the state bank can earn 1.3-1.4 trillion rubles, which gives a dividend of more than 30 rubles. per share,” says Mr. Scriabin.

Against the backdrop of the isolation of the Russian market, investors are experiencing a shortage of investment ideas. Supports positive sentiment and capital inflows from retail investors who are looking for ways to hedge against inflation. According to the Moscow Exchange, in the first half of the year, 3 million unique accounts were opened, and their total number reached 26 million. The share of transactions of individuals in stock trading exceeds 80%.

Market participants expect further growth in the value of the state bank’s shares. Dmitry Skryabin does not exclude their rise to 300 rubles, further growth will depend on the prospects for the economy next year. “Sberbank remains one of the most interesting long-term investments on the market,” he notes. The rise in the state bank’s shares will also stimulate further rise in the entire market. Tsifra Broker analyst Daniil Bolotskikh does not exclude the possibility that if the Moscow Exchange index successfully consolidates above 3,000 points, the next resistance level will be 3,300 points.

Vitaly Gaidaev