Colombia financial markets see MSCI Colcap highs and dollar volatility

The Colombian financial market experienced significant activity driven by currency fluctuations, stock index performance, and upcoming central bank decisions. The US dollar showed volatility against the Colombian peso, closing at different levels throughout the session, influenced by rising international oil prices and anticipation of the US Federal Reserve's interest rate decision.

In the equity market, the MSCI Colcap index reached weekly highs, recording a 1.77% increase and a year-to-date valuation of 25.23%. Pei led the weekly gains with a 7.50% rise, followed by Cementos Argos and Grupo Argos. However, overall trading volume saw a decline of 42.70% compared to the previous week.

Additionally, the S&P Colombia Select index is set for a rebalancing on September 18, which will result in the exclusion of Promigas due to insufficient average daily trading volume. This change is expected to trigger significant buying flows in Ecopetrol, Cemargos, and Mineros.