Colombia Stocks Flat as Peso Slips 0.5% | Colombia Market Report, Oct 28
Key Facts
- Colombia’s main stock index, the COLCAP, closed almost unchanged at 2,505.79 on Wednesday, down 0.03% from Tuesday.
- The peso weakened about 0.5% to roughly 3,163 per US dollar, while US Treasury yields stayed near 5%.
- Ecopetrol, the state-controlled oil company, rose 2.3% in New York to US$17.68 as oil prices climbed; Bancolombia, the largest bank, fell 1.2%.
- The 2,500-point line held again while every other major Latin American index fell.
- Prediction markets: Polymarket, a prediction market, puts 58.5% on a quarter-point interest-rate rise at Colombia’s October central-bank decision, as of 28 October 2026, 8:47 pm ET.
Today’s Focus
Colombia’s stock market was the calm spot in a red region on Wednesday. The COLCAP, the index of the Bogotá exchange’s most traded shares, ended at 2,505.79 points, down just 0.03%.
Oil helped. Ecopetrol, the state-controlled oil company and a heavyweight in the index, gained 2.3% in New York as crude rose, while the peso slipped about 0.5% to roughly 3,163 per US dollar.
At that rate each peso is worth about US$0.00032, and a weaker peso makes imports and dollar debt costlier for Colombian households and firms.
What matters today. With Ecopetrol so large in the index, oil prices decide much of Colombia’s market mood, and a weaker peso feeds into prices and interest-rate expectations.
01 The session in one read
The COLCAP closed at 2,505.79 on Wednesday 28 October, a hair below Tuesday’s 2,506.51. It stayed above the 2,500 mark, a level traders watch closely.
The peso ended the session near 3,163 per dollar, about 0.5% weaker than Tuesday. The official daily reference rate, the TRM, for the day was 3,148.02 pesos.
Elsewhere in Latin America, Brazil’s Ibovespa fell 2.68% and Mexico’s IPC 0.76%, so Colombia’s flat close was the best of the five major markets.
The flat index masks a split, judged by US-listed shares: oil-linked Ecopetrol gained while Bancolombia lost ground. A calm equity market with a weaker currency suggests investors are cautious rather than fleeing.
The variable to watch is oil: a sustained WTI above US$100 would support Ecopetrol and the COLCAP, while a US rate scare could push the peso weaker.
02 The day’s numbers
| Measure | Level | Change | Read |
|---|---|---|---|
| COLCAP | 2,505.79 | −0.03% | Held the 2,500 mark |
| USD/COP | 3,163 | +0.5% | Peso weaker |
| Ecopetrol ADR | US$17.68 | +2.26% | Oil-led gain |
| Bancolombia ADR | US$94.67 | −1.18% | Banks soft |
| Oil fund (USO) | US$166.57 | +1.64% | WTI proxy rose |
The COLCAP’s move was too small to read as a trend: it has now closed within 0.1% of 2,506 for two sessions in a row. The peso’s weakness of about 0.5% was larger than the index move.
The US Federal Reserve, the US central bank, held rates at 3¾% to 4%, with two voters preferring a quarter-point rise, and the 10-year US yield ended at 5.02%. Higher dollar yields tend to weigh on emerging-market currencies such as the peso. Rio Times · Live Market Intelligence
Live Market IntelligenceColombia — Live Market Board
Colombia — Live Market Board
Instrument Last Change YoY Prev. High Low Volume
COLCAP
2,505.79
-0.03%
—
—
—
—
—
USD/COP
3,149
+3.06%
-18.02%
3,056
3,173
3,111
—
BRENT
109.58
-5.38%
+66.99%
115.81
111.92
109.00
34,268
WTI
100.12
-1.61%
+63.30%
101.76
102.82
99.77
201,568
ECOPETROL
17.36
-0.23%
+86.31%
17.40
17.71
17.22
402,817
BANCOLOMBIA
96.18
-0.23%
+68.95%
96.40
97.45
95.66
85,636
GRUPO AVAL
4.76
+0.42%
+13.67%
4.74
4.82
4.68
90,387
TECNOGLASS
37.99
-0.07%
-36.40%
38.01
38.14
37.61
35,541
CREDICORP
368.43
-1.49%
+43.59%
374.02
378.12
368.43
62,467
BUENAVENTURA
28.65
+0.72%
+33.16%
28.44
28.71
27.87
314,023
SOUTHERN COPPER
192.19
+3.32%
+50.65%
186.01
193.86
185.75
649,631
Live Company IntelligenceEcopetrol SA ADR — the full investor dossier
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$18.38
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03 Why it moved: oil against banks
Oil was the support. The US Oil Fund, which tracks WTI crude, rose 1.64% to US$166.57, and Ecopetrol’s New York shares followed with a 2.26% gain to US$17.68.
Banks were the drag. Bancolombia’s US-listed shares, the best US-market proxy for Colombia’s largest bank, lost 1.18% to US$94.67.
The peso lost about 0.5% even though oil rose; Chile’s peso also weakened, while Mexico’s gained. The central bank’s next decision is the other focus, with prediction markets leaning toward a rate rise.
04 The day’s movers
| Driver | Level / Move | Change | Note |
|---|---|---|---|
| Ecopetrol (EC) | State-controlled oil company | +2.26% | Oil rallied |
| Bancolombia (CIB) | Largest bank, US shares | −1.18% | Banks soft |
We could verify two names against exchange data on the day, the US-listed shares of Ecopetrol and Bancolombia. We do not show local moves we could not confirm.
The pair shows the split: energy gained and finance lost, which left the index flat.
05 The regional scoreboard
| Index | Country | Change |
|---|---|---|
| COLCAP | Colombia | −0.03% |
| Ibovespa | Brazil | −2.68% |
| IPC | Mexico | −0.76% |
| IPSA | Chile | −0.82% |
| Merval | Argentina | −1.30% |
Colombia’s flat close was the strongest in Latin America on Wednesday. All four other major indices lost between 0.76% and 2.68%.
The gap reflects Colombia’s heavy oil weighting, which helped on a day when crude rose and Brazil’s banks fell.
06 The technical picture
The COLCAP’s 2,500-point line has held for two sessions with closes of 2,506.51 and 2,505.79. A close below it would suggest that sellers are taking control.
A move toward the 2,515 area would show that buyers have returned.
What Prediction Markets Say
On Polymarket, a prediction market, traders put the chance that Colombia’s central bank raises its interest rate by 0.25 percentage points at its October decision at 58.5%. They see a 32.0% chance that it leaves the rate unchanged and 7.5% for a rise of 0.5 points or more. About US$67,000 has been traded on this market, as of 28 October 2026, 8:47 pm ET.
Prices on prediction markets are bets, not polls or forecasts by officials.
Why we show this: prediction markets turn real-money bets into a live probability that moves within minutes of the news, which is why investors, campaigns and newsrooms in the United States now follow them closely. We show them next to polls and official results, never instead of them.
07 What to watch
- The central bank’s October decision: Markets lean toward a quarter-point rate rise; an unchanged rate would be a surprise.
- Oil prices: WTI above US$100 supports Ecopetrol and the COLCAP.
- USD/COP near 3,163: A move above 3,200 would show growing pressure on the peso.
- US rates: A 10-year Treasury yield at 5.02% and a split Fed keep emerging-market currencies exposed.
Background: Colombia Stocks Flat as Peso Slips 0.56%.
Background: Colombia Stocks Fall 1.38% as Peso Firms.
Frequently Asked Questions
Why was the COLCAP flat on Wednesday?
Gains in oil-linked Ecopetrol offset weaker bank shares, leaving the index down just 0.03% at 2,505.79.
What is the COLCAP?
It is Colombia’s benchmark stock index, tracking the most liquid shares on the Bogotá exchange, such as Ecopetrol, Bancolombia, ISA and Grupo Sura.
Did the Colombian peso weaken?
Yes. The dollar closed near 3,163 pesos, about 0.5% higher than on Tuesday, so the peso was weaker.
Why does oil matter so much for Colombia?
Oil is Colombia’s largest export and Ecopetrol is a heavy weight in the COLCAP, so crude prices move both the index and the currency.
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
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