RSX Taking A Diversified Beating of 10%

Russia continues to face the music of declining oil prices and economic sanctions as the Market Vector Russia ETF Trust (RSX) opened nearly 10% below its last market close.

A look at the top 5 companies that comprise the index reveals that sectors across the board are losing their footing, as the stocks continue to fish for their new floors. From the banking industry, Sberbank Of Russian Federation LI, which contributes 6.18% of net assets in the ETF, faced the highest dip in this list of stocks, amounting to 23.8%.

In the oil, gas, and coal sector, Lukoil Oao LI and Gazprom Oao (OGZD:LI) were both down 13.7% and 13.6% respectively. In the consumer staples sector Magnit Ojsc (MGNT LI) also faced a beating and was down 11.5%. The last entrant in this list of top 5 components of the index, Mmc Norilsk Nickel (MNOD LI), from the base metals industry, plummeted the least, but was still down a significant 5.2%.

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