The global market again suffered a crushing day with the S&P 500 losing 4.46%. Again, as we witnessed last week, the Colcap isn’t immune to the pain but takes its hits with a little less vigor. The index dropped 2.64% ending the 6-session rally. COP248.6 billion was traded on the BVC today.
The market saw 2 names with gains in the turbulence today, Exito and Biomax, a number of companies traded flat, and the majority were in the red. Tablemac, Pacific Rubiales and Bancolombia held down the bottom as they lost 5.56%, 5.21%, and 4.90%, respectively. The latter two accounted for roughly one-third of trading volume.
During the 2nd quarter, mortgages increased 28.7% over the same period last year as they reached COP$1.56 trillion. The number of loans on used dwellings increased 27.3%, while new housing loans increased 18.3%.
The Colombian forex market registered just over COP$1 trillion in trading today as the Peso weakened against the dollar and closed at 1,777.50.