Colombia Stocks Fall 1.25% as Peso Slips | Colombia Market Report, Oct 22
Key Facts
- Colombia’s COLCAP fell 1.25% to 2,528 on Thursday, giving back Wednesday’s 1.07% gain, as Ecopetrol, the state oil company, slid 1.64%.
- The peso weakened 0.52% to COP3,196.79 per US dollar, in line with a global sell-off in technology shares and other risk assets.
- Ecopetrol closed at COP2,700 (about US$0.84), down 1.64% in Bogotá; its New York shares lost 1.33% even though crude oil rose.
- Corficolombiana gained 2.87%, while Davivienda Group fell 2.58% and Grupo Sura 1.38%.
- Colombian stocks fell with the region: Chile’s IPSA lost 1.88%, Brazil’s Ibovespa 1.15% and Mexico’s IPC 1.25%.
Today’s Focus
Colombia’s stock market closed lower on Thursday, with the COLCAP index of Bogotá’s most-traded shares falling 1.25% to 2,528. The move followed a 1.07% rise in the previous session.
Ecopetrol, the state-controlled oil producer and the index’s heaviest member, fell 1.64% to COP2,700 (about US$0.84). Crude oil itself rose on Thursday, so the fall was company-specific and part of a wider risk-off mood: the Nasdaq lost about 2.6%.
The peso weakened to COP3,196.79 per US dollar, a 0.52% move, on RT data. The official reference rate (TRM) for the day was COP3,191.47.
What matters today. A weaker Ecopetrol and a softer peso on the same day show how closely Colombian markets follow the state oil company and global risk appetite.
01 The session in one read
The COLCAP, Colombia’s main stock index, which tracks the most-traded companies listed in Bogotá, closed at 2,528 on Thursday, down 1.25%, or roughly 32 points. The decline reversed the previous session’s 1.07% advance.
Ecopetrol was the single biggest weight on the board. It fell 1.64% to COP2,700 (about US$0.84) even though crude oil rose, with Brent above US$112 a barrel, so the pressure came from the company and from global caution rather than from the oil price.
The peso also lost ground, ending at COP3,196.79 per dollar. That is 0.52% weaker than Wednesday’s COP3,180.38, a move that fits a day when US technology shares fell sharply and investors cut risk in emerging markets.
The COLCAP gave back Wednesday’s gain largely because its largest member, Ecopetrol, fell, while the peso weakened in step with global risk aversion. We cannot confirm a single local trigger for the Ecopetrol fall. The variable to watch is whether Ecopetrol recovers on Friday, because it will keep steering the index either way.
02 The day’s numbers
| Measure | Level | Change | Read |
|---|---|---|---|
| COLCAP, Colombia’s main stock index | 2,528 | −1.25% | A fall of about 32 points, reversing Wednesday’s gain |
| USD/COP, pesos per US dollar | COP3,196.79 | +0.52% | Peso weaker; official TRM COP3,191.47 |
| Ecopetrol, Bogotá | COP2,700 | −1.64% | Heaviest index member |
| Ecopetrol, New York (EC) | US$17.01 | −1.33% | Fell although crude rose |
The COLCAP’s fall of 1.25% was the same size as Mexico’s IPC and a little smaller than Chile’s IPSA (−1.88%). It left the index below Wednesday’s close of 2,560.
The dollar bought COP16.4 more than on Wednesday on RT data. For a US reader, one US dollar buys about 3,197 pesos, so a Colombian peso is worth roughly US$0.0003. Rio Times · Live Market Intelligence
Live Market IntelligenceColombia — Live Market Board
Colombia — Live Market Board
Instrument Last Change YoY Prev. High Low Volume
COLCAP
2,506.51
+0.06%
—
—
—
—
—
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
Wall Street view
Valuation & profitability
Price & risk
$8.6752-wk high
$18.38
Revenue trend · 6y
Ownership
Dividend
03 Why it moved: Ecopetrol and global risk
Ecopetrol dominates the COLCAP because it is the country’s largest listed company. When it falls 1.64%, it alone pulls the index down by a visible margin.
Global markets were weak. The S&P 500 fell 1.21%, and the Nasdaq fell about 2.6%, its largest daily drop since June. That kind of selling usually lifts the dollar against emerging-market currencies such as the peso.
US data did not offset it. Initial jobless claims fell to 194,000 against a forecast of 200,000 (RT economic calendar), a firm labour-market reading that kept US interest-rate bets high and the dollar supported.
04 The day’s movers
| Driver | Level / Move | Change | Note |
|---|---|---|---|
| Corficolombiana | — | +2.87% | Standout gainer |
| Davivienda Group | — | −2.58% | Deepest fall among the movers we verified |
| Cementos Argos | — | −1.77% | Building materials |
| Éxito | — | −1.41% | Retail |
| Grupo Sura | — | −1.38% | Holding company |
The movers show a selective market. Corficolombiana, a financial holding group, gained 2.87% even as the index fell, while Davivienda Group, one of the country’s largest banks, lost 2.58%.
We could not verify closing prices for Bancolombia, ISA or GEB, so we do not report them.
05 The regional scoreboard
| Index | Country | Change |
|---|---|---|
| COLCAP | Colombia | −1.25% |
| IPSA | Chile | −1.88% |
| IPC | Mexico | −1.25% |
| Ibovespa | Brazil | −1.15% |
| Merval | Argentina | −1.5% |
Every major Latin American index closed lower on Thursday, so Colombia’s fall was part of a regional move, not a local one. Argentina’s Merval now runs on a new MSCI-based methodology.
06 The technical picture
The COLCAP closed at 2,528, below Wednesday’s 2,560.43. A close back above 2,560 would show that buyers have returned; until then the index sits under that level.
The peso moved from COP3,158.82 on Tuesday to COP3,180.38 on Wednesday and COP3,196.79 on Thursday, a steady weakening of about 1.2% over two sessions.
07 What to watch
- Ecopetrol: A rebound in the state oil company would lift the COLCAP quickly; further falls would keep the index under pressure.
- Peso near COP3,200: A move above this level would show that global risk aversion is spreading to Colombian assets.
- US technology shares: Another sell-off on Wall Street would keep emerging-market currencies under pressure.
- US interest-rate bets: Strong US data supports the dollar and weighs on the peso.
Background: Colombia Stocks Rise 1.07% as Peso Slips.
Background: Colombia Stocks Rise 0.47% as Peso Slips.
More: Colombia news in English, every day from The Rio Times.
Frequently Asked Questions
What is the COLCAP?
It is Colombia’s main stock index, tracking the most-traded shares listed on the Bogotá exchange, with heavy weight in oil and financial names.
Why did Colombian stocks fall on 22 October?
The COLCAP fell 1.25% as Ecopetrol, its largest member, lost 1.64% and global investors sold risk assets, with the Nasdaq down about 2.6%.
What happened to the Colombian peso?
It weakened 0.52% to COP3,196.79 per US dollar on RT data, as the dollar gained on global caution.
Which Colombian stocks moved the most?
Corficolombiana rose 2.87%, while Davivienda Group fell 2.58%, Cementos Argos 1.77%, Éxito 1.41% and Grupo Sura 1.38%.
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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