Colombia Markets: COLCAP & the Peso — September 23, 2026
Key Facts
- COLCAP advanced 0.90% to 2,589 as energy-linked shares supported Colombia’s benchmark stock index in the September 22 session
- The peso weakened with the dollar rising 0.86% to 3,203 pesos, retreating from recent strength against the greenback
- Ecopetrol’s Bogota shares fell 3.21% to 2,715 pesos even as ETB rose 5.83% and Promigas 4.84% to lead the index
- Oil remained the macro anchor with global crude prices mixed as investors awaited talks between US and Chinese leaders
- Local media focused on budget and tax debates with Colombia’s 10-year bond yield at 12.7%, the region’s second-highest after Brazil
Today’s Focus
Colombia’s COLCAP index — the benchmark that tracks the most liquid shares on the Bogotá exchange — closed Tuesday’s session at 2,589, a gain of 0.90%. The advance came even as the peso slipped against the dollar, with the US currency trading at 3,203 pesos, up 0.86%.
Energy-related names drove the positive tone. Ecopetrol, the state-controlled oil producer, and Bancolombia, the country’s largest bank by assets, were among the most active names. Ecopetrol itself fell 3.21% in Bogota, so the index’s advance came from gainers such as ETB, Promigas and Grupo Argos.
The peso’s decline left it about 18.4% below its 52-week high, with the dollar having traded in a range of 3,044 to 3,924 pesos over the past year. That spacing suggests the currency has been relatively firm in recent months but gave back some ground in this session.
What matters today. The COLCAP’s rise shows equities shrugging off a softer peso, with oil-linked names doing the heavy lifting.
01 The session in one read
Colombia’s stock market closed higher on Tuesday, with the COLCAP index gaining 0.90% to finish at 2,589. The move came despite a softer peso, which slipped 0.86% against the dollar to 3,203.
Energy-linked names provided the backbone for equities, with Ecopetrol and Bancolombia among the most heavily traded. The session reflected a market balancing oil-price signals against local fiscal and political headlines.
The peso remains well below its 52-week high, at a distance of about 18.4%, reflecting months of relative strength against the dollar. The COLCAP’s climb suggests investors were willing to look past the currency dip.
The session fits a pattern where Colombia’s equity market can rally even when the peso dips, especially if oil prices hold and local budget news stays benign. The 12.7% yield on 10-year government bonds suggests investors still demand a hefty risk premium, yet the COLCAP’s 0.90% gain signals pockets of confidence.
The variable to watch is whether the peso’s slide extends toward the 3,300 level, which could test importers and renew inflation chatter around the 2027 minimum-wage debate already brewing in local media.
02 The day’s numbers
| Measure | Level | Change | Read |
|---|---|---|---|
| COLCAP index | 2,589 | +0.90% | Benchmark gains as energy names support |
| USD/COP | 3,203 | +0.86% | Peso weakens against the dollar |
| 52-week high (USD/COP) | 3,924 | — | Peso remains 18.4% below this level |
| 52-week low (USD/COP) | 3,044 | — | Peso still well above annual floor |
| S&P 500 | 7,765 | −0.00% | US equities flat as AI rally pauses |
| US 10-year yield | 4.967% | +0.08% | Global rates edge higher |
The COLCAP’s 0.90% advance left it at 2,589, with the move driven largely by energy-related shares. The peso’s 0.86% decline to 3,203 took it further from its year-high but still comfortably above the 3,044 floor.
The US backdrop was muted, with the S&P 500 effectively flat and the 10-year Treasury yield inching up to 4.967%. That global calm gave Colombian assets room to trade on local factors. Rio Times · Live Market Intelligence
Live Market IntelligenceColombia — Live Market Board
Colombia — Live Market Board
Instrument Last Change YoY Prev. High Low Volume
COLCAP
2,588.64
+0.90%
—
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
Live Company IntelligenceEcopetrol SA ADR — the full investor dossier
Wall Street view
Valuation & profitability
Price & risk
$8.1652-wk high
$18.38
Revenue trend · 6y
Ownership
Dividend
03 Why it moved — oil, local politics and a softer peso
Oil is the market’s macro anchor, and Brent’s mixed signals kept traders cautious but willing to hold energy shares. Local media reported crude prices falling amid investor positioning before a US-China leaders’ summit, yet the COLCAP’s advance suggests domestic energy names found support.
The peso’s slip reflected broader dollar firmness, with the dollar index up 0.17% on the session. A stronger greenback often pressures emerging-market currencies like the peso, even when local fundamentals are stable.
At home, news flow centred on the 2027 budget debate and a proposed roadmap for disaster response in El Paraíso. Neither seems to have spooked equity investors, even as the 12.7% yield on 10-year government bonds kept risk premia elevated.
04 The day’s movers
| Driver | Level / Move | Change | Note |
|---|---|---|---|
| Ecopetrol | US$16.91 +0.42% | Most-traded name; turnover 737,591 shares | |
| Bancolombia | US$97.96 +0.71% | Second most-traded; turnover 188,740 shares | |
| ETB +5.83% +5.83% Session’s biggest gainer Promigas +4.84% +4.84% Gas distributor advanced Terpel −3.28% −3.28% Fuel retailer led losers | |||
Ecopetrol and Bancolombia were the most active names by turnover, and both New York lines closed higher. Ecopetrol’s Bogota shares still fell 3.21% to 2,715 pesos, a gap that reflects exchange-rate effects on the foreign-listed line. The index’s gain came from elsewhere: ETB rose 5.83%, Promigas 4.84% and Grupo Argos preferred 4.44%.
05 The regional scoreboard
| Index | Country | Change |
|---|---|---|
| Ibovespa | Brazil | +0.44% |
| IPC | Mexico | +0.17% |
| IPSA | Chile | +0.61% |
| Merval | Argentina | −0.04% |
| BVL Perú | Peru | +1.84% |
Peru’s BVL index led the region with a 1.84% jump, while Chile’s IPSA added 0.61%. Brazil’s Ibovespa and Mexico’s IPC posted modest gains.
Argentina’s Merval bucked the trend, slipping 0.04%. The live market board above carries the latest closes for all regional bourses.
06 The technical picture
The COLCAP’s close at 2,589 keeps it in the upper half of its recent range, though the index still trades below levels seen earlier in 2026. The 0.90% advance suggests buyers are defending the benchmark above the 2,550 area.
For the peso, the 3,203 close leaves it testing resistance near the 3,200 mark. A break above 3,300 would open the door toward the 3,400 zone, while support sits around the 52-week low of 3,044.
07 What to watch
- US-China summit: Any progress could lift oil demand hopes and support Colombian energy shares
- Colombia budget vote: Fiscal headlines could swing the peso and bond yields in coming sessions
- Peso’s 3,200 level: A sustained break above 3,200 may test the 3,300 technical target
- Oil price direction: Brent’s next move remains the clearest driver for Ecopetrol and the COLCAP
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, tracking the most liquid shares on the Bogota exchange. It plays the role the Dow plays in the United States, but it weights companies by market value rather than by share price.
Why did the peso weaken?
The dollar strengthened broadly, and the greenback rose 0.86% against the peso to 3,203, reflecting global dollar firmness.
Did oil boost the market?
Oil remains the key macro driver for Colombia, and energy-linked names supported the COLCAP even though Brent’s move was mixed.
How does USD/COP work?
It shows how many pesos one US dollar buys. A higher number means the peso is weaker; a lower number means it is stronger.
COLCAP — 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
In depth
LatAm Markets: Live Signals → — real-time movers, turnover leaders and FX across Latin America.
Read More from The Rio Times