Mexican Stock Market Holds the Line as Technicals Signal Caution

Mexico City, June 24, 2025—Official data from the Bolsa Mexicana de Valores confirms the S&P/BMV IPC index closed at 56,080.06 on June 23, down 0.33% from the previous session.

The market has now fallen over 6% from its late May peak, reflecting a period of sustained selling pressure. The session saw moderate trading volumes, with 124 stocks rising and 93 falling, as investors weighed both local and global signals.

The day’s biggest gainers included Grupo Televisa, climbing 2.82% to 9.10 MXN on nearly 4 million shares, and Grupo Aeroportuario del Centro Norte, which rose 1.16% to 243.51 MXN.

Grupo Comercial Chedraui added 1.10% to 146.98 MXN, while Bolsa Mexicana de Valores and Regional SAB also posted gains above 0.9%. On the losing side, Orbia Advance Corporation dropped 7.49% to 11.73 MXN, hitting a multi-year low.

Arca Continental fell 3.72% to 200.03 MXN, while Becle SA lost 3.51% to 22.25 MXN. Materials and energy stocks also lagged, down 1.94% and 2.31% respectively.

Compared to global peers, the Mexican index’s recent correction stands out. The S&P/BMV IPC has risen 17.7% since January, outpacing most emerging markets, yet it now sits about 6% below its highs.

In contrast, the S&P 500 and Nasdaq in the United States recorded modest gains in the past 24 hours, while European markets traded flat. The peso weakened slightly, closing at 19.13 per US dollar, but remains up over 8% year-to-date.

Mexican IPC Index at a Technical Crossroads Amid Volatility

Technical analysis of the daily and 4-hour IPC charts shows the market at a critical juncture. The index sits above a long-term rising support line but remains below the 50-, 100-, and 200-period moving averages on both timeframes.

The daily RSI reads 37.84, and the 4-hour RSI is 32.81, both near oversold territory but not yet signaling a clear reversal. MACD on both charts remains negative, with the histogram showing persistent bearish momentum.

Bollinger Bands have widened, reflecting increased volatility, while price action hugs the lower band, a sign of ongoing downward pressure.

Despite the recent pullback, fundamental data shows the Mexican market trading at a price-to-earnings ratio of 11.5x, with a total market cap of 9.0 trillion MXN.

ETF flows remain steady, with about 25 billion MXN traded daily and 45% of volume coming from international cross-listings. Sector performance over the last week shows healthcare and utilities as the only gainers, while industrials and consumer staples led the declines.

The S&P/BMV IPC’s correction has paused near the upper edge of the Ichimoku cloud on the daily chart, but technicals suggest the downtrend could resume if support fails.

The 200-period moving average on the 4-hour chart has not yet been tested, leaving open the possibility of further declines. Investors remain cautious, balancing attractive valuations against persistent technical weakness and global uncertainty.

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