The Colcap index plummeted -3.84% on Monday, September 26, continuing the fall of Friday, September 23 (-3.69%). The Colombian Stock Exchange (BVC) continues to show weakness along with the region. OPA for Nutresa moves the Colombian Stock Exchange (BVC).
Not only did the BVC collapse, the Dow Jones fell -1.11%, US 500 (-1.07%), while the dollar (DXY) strengthened in the world by +0.92% for being the refuge currency.
Black Monday at the BVC
The fall in the prices of issuers on the Colombian Stock Exchange (BVC) is due to multiple reasons, among which is the international crisis, the rise in interest rates by the Banco de la República, inflation, the tax reform and the country’s instability.
It is possible that when the United States Federal Reserve (FED) begins to lower interest rates in the coming months, emerging economies such as Colombia will have a breathing space in the stock market.
The OPA for Nutresa had calmed the falls in BVC last week, however, the downward trend continued.
The shares that fell the most are: CLH (-9.39%), Banco de Bogotá (-8.48%), Cemargos (-6.76%), Bancolombia and PfBancolombia (-6.46%, 6.04%), followed by PFCorficol (-5.41%) , PFGrupoSura (-5.11%) among others.
???? Petro tax reform is affecting the Colombian Stock Exchange (BVC)
These falls have left millions of losses for BVC investors, however, currently the Colombian stock market has great investment opportunities, next year companies can give returns of up to 35%.
Ecopetrol, the most important company of the BVC, also closed today below $2,000 pesos.
???? Gibraltar, the new foreign real estate fund that landed in BVC