Colombia Markets: COLCAP Slips 0.33% as the Peso Weakens
Key Facts
- COLCAP slipped 0.33% to 2,576 points on Monday, 28 September, giving up early gains as global selling pressure built.
- The peso weakened. The peso closed at 3,362 per US dollar, about 1.5% weaker than on Friday, after trading between 3,302 and 3,368.
- The Banco de la República decides on rates on Wednesday, 30 September. The policy rate is 12.00%, and most analysts expect a hold.
- The government confirmed early talks with the IMF on its fiscal position. No loan, facility or agreement has been announced.
- In New York, Bancolombia’s ADR fell 2.94% to US$92.35 and Grupo Aval’s fell 3.43% to US$4.79, while Ecopetrol’s rose 0.72% to US$16.70.
Today’s Focus
The COLCAP — Colombia’s benchmark stock index, a basket of the most liquid shares on the Bogotá exchange — closed at 2,576 points, down 0.33% on Monday. It opened higher but could not hold the gains.
The peso had the weaker day. The peso closed at 3,362 per US dollar, about 1.5% weaker than on Friday. Spot volume was about US$1.58 billion.
The drivers were external. US Treasury yields rose, oil prices climbed and global risk appetite faded. Local investors also weighed the government’s newly confirmed talks with the International Monetary Fund.
What matters today. The peso has given back part of its recent strength ahead of Wednesday’s central bank decision, while equities are drifting rather than breaking down.
01 The session in one read
Colombia’s main stock index, the COLCAP, fell 0.33% to 2,576 points on Monday, 28 September. It opened in positive territory, then turned lower as selling spread across global markets.
The peso weakened. The peso closed at 3,362 per US dollar, down from 3,312 on Friday. The day’s low was 3,302 and the high was 3,368.
The mood was cautious. Investors are waiting for the central bank’s interest rate decision on Wednesday and for more detail on the IMF talks.
Both the peso and local equities fell on the same day, which points to a common external driver rather than a domestic shock. Higher US yields and a jump in oil prices pushed investors away from emerging-market assets. The variable to watch is Wednesday’s rate decision: a surprise increase could support the peso but weigh on bank shares.
02 The day’s numbers
| Measure | Level | Change | Read |
|---|---|---|---|
| COLCAP index | 2,576 | −0.33% | Early gains reversed |
| USD/COP (pesos per US dollar) | 3,362 | +1.5% | Peso weakens |
| Ecopetrol ADR (NYSE) | US$16.70 | +0.72% | Supported by oil |
| Bancolombia ADR (NYSE) | US$92.35 | −2.94% | Banks under pressure |
| Grupo Aval ADR (NYSE) | US$4.79 | −3.43% | Weakest of the three |
The COLCAP’s fall was modest. The index is still close to the top of its range for the year.
At 3,362 pesos per US dollar, the currency remains about 14% stronger than its weakest close of the past year. Over 52 weeks the rate has closed between roughly 3,044 and 3,925 per US dollar.
Live Market IntelligenceColombia — Live Market Board
Rio Times · Live Market Intelligence
Colombia — Live Market Board
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| COLCAP | 2,579.33 | -0.21% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| USD/COP | 3,140 | +0.03% | -22.04% | 3,139 | 3,141 | 3,105 | — |
| BRENT | 88.88 | -0.03% | +34.42% | 88.91 | 90.07 | 88.12 | 29,713 |
| WTI | 83.11 | -0.11% | +31.57% | 83.20 | 84.35 | 82.40 | 166,848 |
| ECOPETROL | 16.92 | -0.53% | +98.01% | 17.01 | 17.05 | 16.79 | 737,591 |
| BANCOLOMBIA | 95.87 | -2.18% | +96.15% | 98.01 | 100.36 | 95.73 | 188,740 |
| GRUPO AVAL | 5.40 | +2.66% | +76.89% | 5.26 | 5.49 | 5.32 | 146,447 |
| TECNOGLASS | 42.30 | -1.10% | -48.04% | 42.77 | 42.73 | 42.05 | 60,908 |
| CREDICORP | 375.17 | -0.49% | +49.60% | 377.00 | 384.43 | 372.27 | 88,375 |
| BUENAVENTURA | 34.45 | -1.02% | +88.07% | 34.80 | 35.62 | 34.33 | 275,831 |
| SOUTHERN COPPER | 193.97 | -0.26% | +104.01% | 194.48 | 199.36 | 192.59 | 367,102 |
03 Why it moved — yields, oil and IMF headlines
The peso weakened as US Treasury yields rose and risk appetite faded across emerging markets. Brent crude futures rose about 0.9% to around US$105 a barrel, adding to inflation worries.
At home, the government confirmed it has begun talks with the International Monetary Fund as fiscal pressures mount. President Abelardo de la Espriella told Finance Minister Miguel Gómez Martínez and the economic team to take charge of the talks. Officials say it is too early to discuss the size of any financing. These are early talks. No loan, facility or agreement has been announced.
Wall Street also set a weak tone. The S&P 500 fell 0.77%.
04 The day’s movers
| Stock | Market | Change | Note |
|---|---|---|---|
| Cementos Argos | Bogotá | −3.14% | Among the largest local fallers |
| Corficolombiana (ordinary) | Bogotá | −3.43% | Largest local faller |
| ISA | Bogotá | −2.15% | Utilities under pressure |
| Grupo Sura (preferred) | Bogotá | +1.51% | Led local gainers |
| Bancolombia ADR | NYSE | −2.94% | US$92.35 |
Financial, investment and utility stocks led the losses in Bogotá. Corficolombiana’s ordinary shares fell 3.43% and Cementos Argos lost 3.14%. The grid operator ISA dropped 2.15%.
A few names held up. Grupo Sura’s preferred shares gained 1.51% and Corficolombiana’s preferred shares rose 1.38%.
In New York, Ecopetrol’s ADR rose 0.72% to US$16.70 on higher oil prices. About 2.7 million ADRs changed hands.
05 The regional scoreboard
| Index | Country | Change |
|---|---|---|
| IPC | Mexico | −0.07% |
| Ibovespa | Brazil | −0.26% |
| COLCAP | Colombia | −0.33% |
| IPSA | Chile | −1.06% |
| Merval | Argentina | −3.28% |
Latin American equities fell across the board. Argentina’s Merval dropped 3.28%, the region’s worst performer, and Chile’s IPSA lost 1.06%.
The COLCAP’s 0.33% fall was slightly deeper than Brazil’s 0.26% dip and Mexico’s 0.07% slip. Bogotá saw steady selling rather than a sell-off. The live market board above carries the final closes.
06 The technical picture
For the COLCAP, the session settled nothing. The index slipped from Friday’s 2,585 but stays near the upper end of its recent range.
For the peso, the 3,300 level held as a floor for the dollar on Monday. A move back below it would point towards the year’s strongest levels near 3,044. A move above 3,400 would signal a deeper correction.
07 What to watch
- Central bank decision: Wednesday’s rate announcement. The rate is 12.00% and most analysts surveyed expect a hold.
- Peso levels: Whether the rate stays above 3,300 per US dollar or climbs towards 3,400.
- IMF talks: Any detail on financing or conditions could move bonds and the peso.
- Oil prices: Brent near US$105 a barrel supports Ecopetrol but adds to inflation risk.
Background: Colombia’s COLCAP Jumps 1.03% as the Peso Slides to 3,166.69 per Dollar.
Frequently Asked Questions
What is the COLCAP?
It is Colombia’s main stock index, a basket of the most liquid shares on the Bogotá exchange, giving investors a daily read on the local equity market.
How did Colombian markets close on Monday, 28 September 2026?
The COLCAP fell 0.33% to 2,576 points. The peso weakened to 3,362 per US dollar, about 1.5% weaker than on Friday.
When does Colombia’s central bank decide on interest rates?
The Banco de la República announces its decision on Wednesday, 30 September. The policy rate is 12.00%, and most analysts expect it to stay there.
Has Colombia agreed an IMF programme?
No. The government has confirmed early talks with the IMF, but no loan, facility or agreement has been announced.
Source: RT live market data, close of Monday 28 September 2026; local closes from Acciones y Valores and BVC.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error
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