COLOMBIA: Colcap Drops 0.12% As Hcolsel Index Rebalancing Weighs On Banks

Colcap, the main index of the Colombian Stock Exchange, fell 0.12% to 1,491.96 points Wednesday, due to the rebalancing of the Hcolcel index.

Ramses Pestanapalmett, an analyst at Ultraserfinco, said that the rebalancing reduced Bancolombia’s shares weight in Horizonts Colombia Select index (Hcolcel). The provisional rebalancing also reduces the weight of Corficolombiana, Nutresa and Empresa de Energia de Bogot? (EEB) shares.

The shares of Cemex (+1.21%), ISA (+0.75%), Ecopetrol (+0.37%), Davivienda (+0.30%), and EEB (+0,25%) rose, while ETB (-1.35%), Bancolombia Preferencial (-1.19%), Grupo Aval (-0.76%), and Bancolombia (-0.59%) fell.

The locally traded U.S. Dollar closed the day at 2,911.25 Colombian pesos (+0.06%) on the eve of the release of inflation data in the United States. Pestanapalmett said that the greenback’s behavior of the currency was influenced by the market’s expectation on the indicator.

The material has been provided by InstaForex Company – www.instaforex.com

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