Colombian equities closed lower on Thursday, with the COLCAP index finishing the session down 2.00%.
Broad weakness in the Financials, Investment and Public Services sectors was the primary force behind the market decline, resulting in more falling issues than advancing ones on the Colombia Stock Exchange by a ratio of 1 to 0.
Among the session's winners, Mineros SA (BVC:MAS) led gains on the COLCAP, rising 3.58% - an increase of 680.00 points - to end the day at 19,680.00. Grupo Bolivar SA (BVC:SCA) added 3.29%, or 3,060.00 points, to close at 95,960.00. Energy heavyweight Ecopetrol SA (BVC:ECO) also moved higher, gaining 1.35% or 30.00 points to finish at 2,245.00.
On the downside, several large-cap names posted steep losses. Grupo Nutresa SA (BVC:NCH) fell 5.96%, a drop of 19,000.00 points, to trade at 300,000.00 at the close. Cementos Argos SA (BVC:CCB) declined 5.94%, or 820.00 points, ending the session at 12,980.00. Grupo de Inversiones Suramericana SA (BVC:SIS) slipped 5.61%, down 3,480.00 points, to 58,520.00.
Commodity price shifts were mixed during the trading day. US coffee C for March delivery rose 2.26%, or 6.65, to $301.45. By contrast, US cocoa for March delivery fell 4.15%, a drop of 156.00, to $3,606.00. The April Gold Futures contract tumbled 3.05%, or 155.59, to trade at $4,942.91 a troy ounce.
Foreign exchange movements accompanied market activity. The USD/COP pair was marginally lower, down 0.01% to 3,671.58, while BRL/COP fell 0.67% to 703.77. The US Dollar Index Futures was up 0.09% at 96.81.
The trading session's profile - a notable index decline with several major constituents posting double-digit percentage moves in local index points - underscores uneven investor positioning across sectors even as a handful of names outperformed. Market breadth indicators reflected that selling pressure outpaced buying on the exchange at the close.
Market snapshot:
- COLCAP: -2.00%
- Top gainers: Mineros SA (BVC:MAS), Grupo Bolivar SA (BVC:SCA), Ecopetrol SA (BVC:ECO)
- Top decliners: Grupo Nutresa SA (BVC:NCH), Cementos Argos SA (BVC:CCB), Grupo de Inversiones Suramericana SA (BVC:SIS)