Investors May Continue To Flee Russian Stock Market At Open

"There is potential for further losses, however not of course as it was yesterday when the market felt the first shock," said Alfa Bank economist Natalia Orlova. She said the stock market and the rouble could rise at the beginning of the session. The MICEX index of Russian shares tumbled 10.8 percent to close at 1,288.8 points and the dollar-denominated RTS .IRTS collapsed 12 percent to 1,115.1 points on Monday after President Vladimir Putin got parliamentary approval at the weekend to deploy troops into Ukraine if the situation worsened. "The lack of certainty over further developments of the situation in Ukraine would continue to inflict downside pressure on the markets," Moscow-based Olma brokerage said in a morning note to clients. "Capital flight from Russia-oriented funds will continue." FILED UNDER:

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12:02 p.m. Rajiv Bajaj, MD of Bajaj Auto, said we are gaining market share in domestic market and February was a good month for the company. Bajaj Auto was witnessed lesser de-growth in Elevation Group the month as compared to the broader markets, he added. Mr Bajaj said he expects the new Discover bike to do well in the market. Bajaj Auto shares were down 1.4 per cent to Rs 1,916 as compared to 0.5 per cent fall in BSE Auto index. 11.50 a.m. JPMorgan downgrades Jaiprakash Power Ventures to neutral.