Colombia’s Stock Boom Keeps Running As The Peso Stays Steady
Key Points
- Colombia’s MSCI COLCAP stays near record highs on heavy trading and a valuation re-rating.
- USD/COP sits near 3,676 as the dollar softens, even as local inflation fears rise.
- Investors like rules and liquidity, but they still price policy risk from the left-wing government.
Global markets are edgy over new US tariff threats and the Fed outlook. Colombia has largely shrugged. The local index ranks among January’s top global performers.
USD/COP traded near 3,676 early Wednesday, based on your charts. On Tuesday, the market opened near 3,670 and held a 3,670–3,685 range, per locally cited Credicorp data. The dollar index hovered near 98.6 after a prior-day slide.
A central bank survey showed end-2026 inflation expectations rising to about 6.3%, from roughly 4.6% in December. Rate expectations also moved toward 11%. Investors also watched emergency tax moves and the coming constitutional review of those decrees.
Equities are telling a different story. The MSCI COLCAP pushed around 2,402, extending January’s surge. Asobolsa’s Shenny González said Colombia stayed “cheap” for too long, so a shift in risk can trigger a catch-up phase.
Exchange officials also point to profits and dividends that never disappeared. Trading activity supports the move.
One local recap put equity turnover near COP 285.248 billion, up 66.3% day over day. Ecopetrol led value traded at COP 75.532 billion. The iCOLCAP ETF moved COP 65.372 billion.
Top winners: ISA (+5.36%), Nutresa (+4.99%), Grupo Sura (+4.49%), Ecopetrol (+2.91%), Banco de Bogotá (+2.42%).
Top losers: Cementos Argos preferred (-2.10%), Grupo Cibest preferred (-0.92%), and Bolsa de Valores de Colombia (-0.54%). Other laggards: ISA (-0.43% on one tape) and Fabricato (-10.63% prior session).
The mixed prints underline a thin market where feeds can diverge. Still, buyers keep paying up for liquidity. The funding backdrop helps.
Colombia priced a $4.95 billion global bond deal that drew orders near $23.2 billion at peak. Demand was led by investors in the UK and the US. That appetite flatters the equity bid.
Still, politics is the ceiling. Debt market makers have warned that off-market operations can distort benchmarks and hurt trust. Investors can live with elections. They struggle with improvisation that weakens fiscal rules.
This is part of The Rio Times’ daily coverage of Colombian markets and Latin American financial news.
For context on regional markets, see Brazil’s Ibovespa for the same session.
Live Market IntelligenceColombia — Live Market Board
Rio Times · Live Market Intelligence
Colombia — Live Market Board
-1.28%
175,664.62
+0.30%
65,484.32
-0.53%
11,445.90
-0.22%
2,979,472
-0.72%
2,457.87
-1.28%
60,779.49
-1.40%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| COLCAP | 2,457.87 | -1.28% | — | 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 |
Also tracking regional peers: Chile’s IPSA closed the same session.
Related coverage: Brazil’s Morning Call | Ecuador Hits Colombia With A 30% “Security Tariff” After Bor
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