The Santiago Stock Exchange, as well as the Chilean peso against the dollar, opened the day with a significant boost after learning of the rejection of the proposal for a new Constitution, which was prepared by the Constituent Convention.
The IPSA, Chile’s main stock market index, registered a jump of more than 6% compared to last Friday’s close and recorded a valuation of 6,013.31 points, its all-time high according to data from Bloomberg.
However, at noon and after the close of the day, the local index moderated its rise and closed with a gain of 2.16%, at a value of 5,775.25 points.
“There are many people who prefer to take profits, in a turbulent global environment and on the eve of a new hike in the Monetary Policy Rate in Chile tomorrow, where the Central Bank is expected to raise the rate from 9.75% to 10, 50%”, explained Renta4 studies manager, Guillermo Araya.
Today the national stock market moved hand in hand with local factors, since Wall Street will not open this day because it is a holiday in the United States. However, pessimism stood out in Europe and its main markets closed with losses due to the energy crisis, a concept that gained strength on Friday afternoon after Gazprom indefinitely suspended the flow of gas to Europe after finding a leak.
Among the main gaining stocks of the day, Enel Chile (7.52%), Cencosud (+6.07%) and Itaú (+4.41%) stand out. While, in the group of losers of the day, Falabella (-3.08%), Concha y Toro (-2.84%) and Vapores (-1.90%) stand out. Within the IPSA group, only five companies closed today in negative territory.
The positive local day was also replicated in the other stock markets in the region that closed higher, but none had a better performance than the IPSA. The selection that came closest to the Chilean was the Ibovespa of Brazil with an increase of 2.16%.
Given this scenario, the IPSA struggled to be the most appreciated primary index in the world today against Turkey’s main indexes, the BIST 30 and BIST 100, according to data from Bloomberg. However, the Santiago Stock Exchange closed the day in third place.