The Moscow Exchange saw early gains of over 10 percent after trading partially resumed for 33 of Russia's largest companies that make up the ruble-denominated MOEX Russia Index. 

Russian stocks last traded on the Moscow Exchange on February 25. The central bank then curbed trading to shield domestic investors from the impact of Western sanctions over its "special military operation" in Ukraine.

The bourse resumed trading exclusively in federal government bonds on Monday.

Trading in blue chips, including state lenders Sberbank and VTB, energy majors Rosneft and Gazprom, will take place between 9:50 a.m. to 2 p.m. local time, with short-selling banned, the central bank said on Wednesday.

Until April 1, foreign investors are allowed to conduct operations to lower their obligations including repo deals and deals with derivative instruments, but not to sell shares or the 10-year government ruble debt, the Moscow Exchange said.

The central bank started to buy the 10-year government ruble debt to support the domestic debt market when it reopened on Monday, and the finance ministry said it plans to spend 1 trillion rubles to buy Russian companies' shares.

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(With input from agencies)