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This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine

MOSCOW, Sept 28 (Reuters) - Russian stocks extended their recovery on Wednesday from months-long lows struck earlier this week as volatile trading sparked by President Vladimir Putin's mobilisation order continued, while the rouble pared early losses to firm against the dollar.

Putin's order, a significant escalation in the conflict in Ukraine, sent stocks spiralling on fears of more sanctions against Moscow, but the rouble, supported by capital controls and other factors, has largely remained strong.

The stock market is "see-sawing" while awaiting drivers, said BCS Global Markets. After sinking on Monday to its lowest since Feb. 24, the day Russia sent troops into Ukraine, the market's "oversold status" had to be resolved, analysts said.

"Its further trend should depend on commodity prices and Gazprom's dividends. Thus, we see chances for the uptrend to continue in the short term, though for now sideways trading seems more likely," BCS added.

By 1253 GMT, the rouble-based MOEX Russian index was 1.5% higher at 1,983.5 points. The dollar-denominated RTS index was up 1.7% to 1,072.8 points.

The rouble was 0.4% stronger against the dollar at 58.24 and had gained 1.4% to trade at 55.39 versus the euro. It was up 1.3% against the yuan at 8.050 .

"Amid claims of the possible introduction of new sanctions on Russia's financial system, part of the population, it seems, has started getting rid of foreign currency," said Alfa Capital analyst Alexander Dzhioev.

"Nevertheless, the fundamental factors influencing the rouble rate are still the ratio of export and import flows and the country's balance of payments," Dzhioev added.

The rouble, which firmed to a two-month high on Friday, has also been supported in recent days by a month-end tax period that usually sees export-focused firms convert their foreign currency earnings into roubles to pay local liabilities.

For Russian equities guide see

For Russian treasury bonds see (Reporting by Alexander Marrow Editing by Mark Potter and Mark Heinrich)