The Russian stock market continues to rise already the fifth week, stock indexes exceeded the mark of 1500, which corresponds to the beginning of December. During the week, the MICEX gained 1.1%, while the dollar-denominated RTS rose by 4.6%. The main reason for the market optimism - the recent FOMC decision to extend the period of near-zero interest rates from mid 2013 until the end of 2014, as well as the statement of the Federal Reserve Chairman Ben Bernanke during a press conference that he "does not rule out", if necessary, the new QE program launch. This clear signal that Fed is going to maintain the extra-accommodative monetary policy in the coming years was heard by the global markets, supporting the growth in risk assets - euro, commodity currencies, gold, metals, stocks (especially the banking sector) appreciated vs USD. In general, the market remained very resilient to negative news. However, EPFR fixed last week the first in this year outflow of global funds from the Russian stocks (- $ 43 mln), by contrast with the funds inflow to the emerging markets as a whole.