Wild moves in Russian stocks as market reopens after month-long shutdown

After the market partially reopened for limited trading, Russia's stocks moved sharply.

Between 10 a.m. and 2 p.m., the Moscow Exchange resumed trading in 33 Russian equities, including some of its biggest names. Moscow time is 3 a.m. and 7 a.m. The Central Bank of Russia made an announcement on Wednesday.

Foreign investors will not be able to sell OFZ ruble bonds until April 1 because of the ban on short-selling.

Around 20 minutes into trading, the Russia index was up more than 10%.

The oil giants and aluminum company Rusal all rose. Norilsk nickel gained more than 22%.

Aeroflot's shares initially plunged more than 20%, but soon recovered to trade around 6% lower a short time later.

The country's stock exchange had been closed since Feb. 25 as Russian assets plunged across the board following the country's invasion of Ukraine.