As of 10:55 a.m. Moscow time [7:55 GMT], the ruble-denominated MICEX index rose 0.94% to 1576.67 points, while Russia's benchmark dollar-denominated RTS index was up 0.41% at 1770.88 points.
Several days after world markets experienced a dramatic plunge, the Russian stock exchange bounced back Tuesday, although experts said uncertainty was likely to continue.
Most "blue chips" gained slightly on closing - Gazprom shares gained 1.63% (RTS) and 1.41% (MICEX), LUKoil 2.37% and 2.40%, respectively, and Sberbank 0.72% and 0.87%, respectively.
"The market is likely to remain in the 1670-1795 point range on the RTS index," said Andrei Vernikov, an analyst with Aton-Lain.
Mikhail Pak, of the Kapital investment group, said he expects the market to continue growing in the first hours of trading due to the positive dynamics of other merging markets, but trading will be sluggish.
"Furthermore, a correction is possible later in the day as speculators close long positions ahead of the public holiday in Russia [March 8 International Women's Day]," he said.
He said previously the market will continue to be affected by falling oil and nonferrous metal prices.
Other analysts said it was premature to talk about the resumption of growth as world stock markets are still in a state of uncertainty.
