Colombia Markets: COLCAP Falls 0.79% as the Peso Gains Ahead of BanRep
Key Facts
- The COLCAP fell 0.79% to 2,559 points on Tuesday 29 September, the weakest close among the main Latin American benchmarks.
- The peso gained 0.95%, closing at 3,330 per US dollar, from 3,362 on Monday. It was the best-performing currency in the region.
- Ecopetrol fell 2.84% to 2,740 pesos (about US$0.82) as Brent crude dropped 2.6% to US$102.59 a barrel.
- Short-term borrowing costs rose. The Finance Ministry’s one-year TCO auction cleared at 12.690%, up 17 basis points on the week and the highest since 28 July.
- Wednesday is decision day. The Banco de la República announces its rate at 13:00 Bogotá time; the rate is 12.00% and most analysts expect a hold.
Today’s Focus
Colombian assets split on Tuesday. The COLCAP equity index fell 0.79% to 2,559 points, while the peso firmed 0.95% to 3,330 per US dollar.
Oil was the drag on stocks. Brent crude settled 2.6% lower at US$102.59 a barrel as Middle East exports showed signs of recovering. Ecopetrol, the state-controlled oil producer and one of the index’s heaviest names, fell 2.84%.
The peso moved the other way. Exporters sold dollars and investors positioned ahead of Wednesday’s central bank decision, according to Bogotá brokerage Acciones y Valores.
Tuesday brought no Colombian data. The local signal came from the debt market: the Finance Ministry’s short-term TCO auction cleared at 12.690%, the highest since late July.
What matters today. The Banco de la República decides on rates on Wednesday. A hold at 12.00% is the consensus, but bets on a hike have grown. That call will set the tone for both the peso and local shares.
01 The session in one read
Colombia’s equity market lost ground for a second day. The COLCAP, the main index for Bogotá-listed shares, fell 0.79% to close at 2,559 points.
That made the Colombian benchmark the weakest of the main Latin American stock indices on the day. Brazil’s Ibovespa rose 0.46% and Mexico’s IPC added 0.26%.
The peso did better, closing at 3,330 per US dollar against 3,362 on Monday, a 0.95% gain for the Colombian currency.
For foreign investors the two moves partly offset each other. A stronger peso lifts the dollar value of Colombian assets, which cushioned the fall in local share prices.
The equity decline tracks the drop in crude and rising short-term borrowing costs. Ecopetrol’s 2.84% fall followed Brent’s 2.6% slide, and the TCO auction rate rose to 12.690%. The peso’s gain reflects dollar sales by exporters and positioning before the rate decision, not a broad improvement in risk appetite: most emerging-market currencies weakened on Tuesday. The variable to watch is Wednesday’s Banco de la República decision, where a hold at 12.00% is expected but a hike is no longer ruled out by the market.
02 The day’s numbers
| Measure | Level | Change | Read |
|---|---|---|---|
| COLCAP | 2,559 | −0.79% | Weakest main LatAm index |
| USD/COP | 3,330 | −0.95% | Peso firmer; best in region |
| S&P 500 | 7,671 | −0.17% | US stocks slightly lower |
| Brent crude | US$102.59 | −2.6% | Signs of recovering Middle East exports |
| Gold | US$4,185/oz | +1.39% | Rebound after Monday’s fall |
The COLCAP closed at 2,559 points, down 0.79%. The peso firmed to 3,330 per US dollar from 3,362 on Monday, a 0.95% gain.
Oil turned from support to drag. Brent settled at US$102.59 a barrel, down US$2.69, after signs that Middle East exports were recovering eased part of the supply premium built up over the Strait of Hormuz.
Live Market IntelligenceColombia — Live Market Board
Rio Times · Live Market Intelligence
Colombia — Live Market Board
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| COLCAP | 2,558.92 | -0.79% | — | 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 Tuesday’s data, one by one
Monday’s edition flagged no Colombian releases for Tuesday. It pointed readers to US data, the peso’s range and the IMF talks. Here is how each item turned out.
- Colombia — no scheduled data. No Colombian economic releases were on Tuesday’s calendar.
- Colombia — TCO auction (Finance Ministry). The one-year short-term bond (TCO) auction cleared at 12.690%, up 17 basis points from a week earlier and the highest since 28 July (12.914%). The ministry sold 900 billion pesos (about US$270 million) maturing in September 2027 and did not use its option to sell more. Rising short-term rates were one reason local shares struggled.
- US — JOLTS job openings, August. Openings slipped to 7.08 million from 7.34 million in July, below the 7.23 million forecast; the Bureau of Labor Statistics called the level little changed. A cooling labour market did not lift risk appetite on the day.
- US — Conference Board consumer confidence, September. The index dropped to 81.9 from 88.6, far below the 89.2 forecast and the lowest since April 2014. The weak reading added to a cautious global tone.
- US — Treasury yields and the dollar. The 10-year Treasury yield ended at about 5.25% and the dollar index rose 0.17% to 101.37. Most emerging-market currencies weakened; the peso was an exception.
- Peso range (promised). We asked whether the rate would stay above 3,300 per US dollar or climb towards 3,400. The rate stayed above 3,300 and moved away from 3,400: the peso firmed to 3,330 per US dollar.
- IMF talks (promised). Acciones y Valores cited progress in the Finance Ministry’s dialogue with the IMF as a support for the peso. No loan, facility or agreement has been announced.
04 Why it moved — cheaper oil, dearer money
Oil is Colombia’s largest export and a key source of government income. When crude falls, Ecopetrol usually falls with it. On Tuesday Ecopetrol dropped 2.84% to 2,740 pesos (about US$0.82) in Bogotá, and its New York-listed shares fell 1.08% to US$16.52.
Borrowing costs added pressure. The TCO auction rate climbed to 12.690%, and Acciones y Valores noted that the Finance Ministry has completed only 73.7% of its annual TES bond-auction target by the end of the third quarter. That leaves a large amount of debt still to sell before year-end.
The peso benefited from dollar sales by exporters and from positioning before Wednesday’s rate decision. Higher expected local rates make peso assets more attractive to hold, even as they weigh on equities.
05 The regional scoreboard
| Index | Country | Change |
|---|---|---|
| COLCAP | Colombia | −0.79% |
| Ibovespa | Brazil | +0.46% |
| S&P/BMV IPC | Mexico | +0.26% |
| S&P IPSA | Chile | −0.73% |
| Merval | Argentina | −0.58% |
Colombia was the laggard among the main Latin American markets on Tuesday. Brazil’s Ibovespa gained 0.46% and Mexico’s IPC added 0.26%.
Chile’s IPSA fell 0.73% and Argentina’s Merval lost 0.58%. On currencies, the Colombian peso’s 0.95% gain beat the Brazilian real’s 0.45%, while the Mexican and Chilean pesos weakened.
06 The technical picture
The COLCAP broke below short-term support at 2,570 points on Tuesday, according to Acciones y Valores. The next key zone is 2,550; a close below it would open the way to about 2,520, the August lows.
At 3,330 per US dollar, the peso is far stronger than its 52-week low of about 3,925 per US dollar, set at the end of September 2025. The 3,300 per-dollar mark is the near-term level to watch.
07 What to watch today
- Unemployment, August (DANE), 10:00 Bogotá / 15:00 UTC: forecast 8.1%, previous 8.1%.
- Business confidence, August (Fedesarrollo), 10:00 Bogotá / 15:00 UTC: forecast 5.0, previous 6.1.
- Banco de la República rate decision, 13:00 Bogotá / 18:00 UTC: the rate is 12.00% and the consensus is a hold, though hike bets have grown. Any vote split or guidance will move the peso and TES bonds.
- Cement production, August, 14:00 Bogotá / 19:00 UTC: forecast −0.8% year on year, previous −4.5%.
- US data: ADP private payrolls (07:15 Bogotá / 12:15 UTC), August PCE inflation and personal spending (07:30 Bogotá / 12:30 UTC) and the Chicago PMI (08:45 Bogotá / 13:45 UTC).
- TES swap on Thursday: the Finance Ministry is finalising a debt swap that would retire TCOs maturing in October, November and January.
Background: Colombia’s COLCAP Jumps 1.03% as the Peso Slides to 3,166.69 per Dollar.
Frequently Asked Questions
What is the COLCAP?
The COLCAP is Colombia’s main stock index, tracking the largest and most-traded companies listed on the Bogotá stock exchange.
How did Colombian markets close on Tuesday, 29 September 2026?
The COLCAP fell 0.79% to 2,559 points. The peso gained 0.95%, closing at 3,330 per US dollar, from 3,362 on Monday.
Why did Colombian stocks fall?
Brent crude dropped 2.6% to US$102.59 a barrel, pulling Ecopetrol down 2.84%, and short-term government borrowing costs rose to 12.690% at the TCO auction.
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.
Source: RT live market data, close of Tuesday 29 September 2026; local closes from Acciones y Valores and BVC; Tuesday’s data from the US Bureau of Labor Statistics and The Conference Board.
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