Colombia Markets: COLCAP & the Peso — September 22, 2026
Key Facts
- The COLCAP index, Colombia’s main stock-market barometer, advanced 0.68% to 2,566 points on Monday. The benchmark built on last week’s gains as global markets rallied.
- The Colombian peso weakened 0.30% against the US dollar, which closed at 3,176 pesos. The currency remains far stronger than its 52-week low near 3,924.
- Oil prices fell about 3%, extending recent declines and keeping export-revenue expectations in check. Lower crude had been a headwind for the peso and for Ecopetrol-linked income.
- The COLCAP is now up about 37% from a year ago. That puts it near the top of Latin America’s major equity benchmarks for 12-month momentum.
- Regional markets were mixed, with Brazil’s Ibovespa up 0.74% and Mexico’s IPC down 0.38%. The divergence reflects different local rate and growth bets.
Today’s Focus
Colombia’s COLCAP equity index rose 0.68% to 2,566 points on Monday, September 21, 2026, tracking a broad global rally in stocks. The peso slipped 0.30% to 3,176 per US dollar, a modest move against a firmer greenback.
The session had a supportive backdrop without a dramatic local catalyst. Oil prices, the country’s key macro anchor, fell about 3% for a fourth straight decline, weighing on energy-linked names.
Technically, the index is holding well above its 52-week range midpoint and remains in a clear uptrend for 2026. The peso is still roughly 19% stronger than its weakest level of the past year.
What matters today. The session confirmed Colombia’s equity resilience even as the peso drifted lower, with global risk appetite doing the heavy lifting.
01 The session in one read
Colombia’s main stock-market index, the COLCAP, closed Monday’s session at 2,566 points, a gain of 0.68% from the previous close. The advance extended a run that has lifted the Bogotá-listed benchmark roughly 37% over the past year.
The Colombian peso moved the other way. One US dollar now buys 3,176 pesos, up 0.30% on the day, meaning the local currency weakened slightly.
The day’s action was driven more by global mood than by a single Colombian story. US stocks rallied, with the Nasdaq up more than 2%, and that appetite for risk spilled into emerging markets including Colombia.
Oil, the commodity most closely tied to Colombia’s exports and state finances, fell about 3%, extending recent declines in crude prices.
The COLCAP’s gain aligns with the positive tone in US and European equities, which helped lift risk assets broadly. However, the peso’s slight decline suggests currency traders were less enthusiastic, possibly mindful of oil-price fragility and recent record import figures that widened Colombia’s trade deficit.
The key variable to watch is whether oil prices can hold current levels. A sustained drop in crude would pressure both the peso and energy-heavy index segments, while any recovery could reinforce the bullish equity case.
02 The day’s numbers
| Measure | Level | Change | Read |
|---|---|---|---|
| COLCAP index | 2,566 | +0.68% | Steady gain, uptrend intact |
| USD/COP peso rate | 3,176 | +0.30% | Peso slightly weaker |
| 52-week range | 3,044 – 3,924 | — | Peso near stronger end |
| Peso vs 52-wk high | — | −19.1% | Far from weakest level |
| S&P 500 (US stocks) | 7,765 | +1.49% | Global risk backdrop positive |
The COLCAP’s 0.68% rise left it comfortably above 2,500, a level that has served as psychological support in recent weeks. The index has now climbed about 5.8% so far in September.
The peso’s 0.30% dip is minor, but it tells a story. With the dollar index up 0.21% against a basket of currencies, the Colombian unit gave back a little ground without any panic.
Notably, the peso remains about 19% stronger than its 52-week peak for the dollar rate, meaning it has recovered significant value from its weakest point near 3,924 pesos per dollar. Rio Times · Live Market Intelligence
Live Market IntelligenceColombia — Live Market Board
Colombia — Live Market Board
Instrument Last Change YoY Prev. High Low Volume
COLCAP
2,466.03
-0.74%
—
—
—
—
—
USD/COP
3,235
+0.24%
-15.62%
3,227
3,252
3,219
—
BRENT
98.05
-0.24%
+54.70%
98.29
100.92
96.65
34,804
WTI
90.45
-0.08%
+52.20%
90.52
92.53
89.07
212,177
ECOPETROL
15.44
-0.64%
+59.88%
15.54
15.73
15.30
620,932
BANCOLOMBIA
91.52
-0.76%
+52.13%
92.22
93.69
91.27
68,231
GRUPO AVAL
4.27
+2.28%
-0.81%
4.17
4.33
4.11
127,835
TECNOGLASS
44.69
-0.98%
-15.06%
45.13
45.67
43.96
221,122
CREDICORP
352.19
+1.21%
+35.70%
347.99
358.15
343.02
191,646
BUENAVENTURA
28.08
-0.88%
+29.54%
28.33
28.35
27.52
277,383
SOUTHERN COPPER
167.64
+1.37%
+28.13%
165.38
168.83
164.77
611,600
03 Why it moved — oil steady, global stocks up
The clearest driver on Monday was the strength in overseas equities. The S&P 500 gained 1.49% and the Nasdaq climbed 2.26%, giving investors across emerging markets a reason to buy.
For Colombia specifically, oil is the macro anchor. Crude prices fell about 3%, extending a period of weakness and keeping alive fears of a revenue squeeze for Latin America’s fourth-largest economy.
Local media highlighted a new record in monthly imports at nearly US$7.97 billion. That pushed Colombia’s trade deficit to US$11.04 billion in the first seven months of the year, a reminder that domestic demand is strong but the external balance is stretched.
The combination explains the split verdict: equities rose on optimism, while the peso dipped as traders weighed a wider trade gap against a modestly firmer US dollar.
04 The day’s movers
| Driver | Level / Move | Change | Note |
|---|---|---|---|
| COLCAP index | 2,566 | +0.68% | Benchmark gain led by broad buying |
| US dollar rate | 3,176 | +0.30% | Peso slipped with firmer dollar |
| Mineros | — | +7.02% Top gainer; Promigas −3.67% top loser |
Mineros led gainers with a 7.02% rise, followed by Terpel (+5.41%) and Corficolombiana (+5.36%), while Promigas (−3.67%) and Banco de Bogotá (−2.85%) led decliners.
Energy was a weak spot, with Ecopetrol’s New York shares down 4.21% as crude fell.
05 The regional scoreboard
| Index | Country | Change |
|---|---|---|
| COLCAP | Colombia | +0.68% |
| Ibovespa | Brazil | +0.74% |
| IPC | Mexico | +0.25% |
| IPSA | Chile | −0.21% |
| BVL Perú | Peru | +0.31% |
Colombia’s gain was second only to Brazil’s among the major regional benchmarks. Brazil’s Ibovespa, the main index for Latin America’s biggest economy, rose 0.74%, similar to the COLCAP’s advance.
Mexico and Chile lagged, with their respective benchmarks down 0.38% and 0.21%. Peru posted a modest 0.31% gain, rounding out a mixed day for Andean and Latin American equities.
06 The technical picture
The COLCAP’s close at 2,566 keeps the index well above its 52-week midpoint and inside the strong uptrend that has defined 2026. The mere 0.68% daily move does little to change the chart story, but it reinforces that dips are being bought.
The peso’s technical position is more instructive. At 3,176 pesos per dollar, the currency sits about 19% below its 52-week high for the dollar rate. That means the worst-case scenario for the peso is now a distant memory.
Looking ahead, the 3,044-to-3,924 range remains the yardstick for the currency. A break below 3,044 would be a major bullish signal for the peso, while a move toward 3,400 would suggest renewed pressure.
07 What to watch
- Oil prices: Any sharp move in crude will quickly feed into the peso and energy-linked stocks.
- Trade balance data: Record imports are widening the deficit, a medium-term peso risk.
- US rate expectations: A firmer dollar tends to pressure emerging currencies like the peso.
- COLCAP 52-week momentum: At roughly +37% year-on-year, the index may face profit-taking if global risk appetite fades.
Background: Colombia’s COLCAP Jumps 1.03% as the Peso Slides to 3,166.69 per Dollar.
More: Colombia news in English, every day from The Rio Times.
Frequently Asked Questions
What is the COLCAP?
It is Colombia’s main stock-market index, tracking the largest companies listed on the Bogotá Stock Exchange, including Ecopetrol and Bancolombia.
Why did the peso weaken?
The dollar strengthened slightly against most currencies on Monday, and Colombia’s record trade deficit may also have weighed on sentiment.
What role does oil play?
Oil is Colombia’s main export and a key source of government revenue, making it the primary macro driver for both the peso and the stock index.
How is the peso positioned for the year?
The peso is about 19% stronger than its weakest level of the past 52 weeks, but still within a wide historical trading range.
Market data: RT; exchange figures from BVC
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
In depth
LatAm Markets: Live Signals → — real-time movers, turnover leaders and FX across Latin America.