Colcap, the main index of the Colombian Stock Exchange, was up 0.25 percent at 1,477.44 points near Thursday’s closing as investors cautiously wait for the legislative elections, scheduled for Sunday.
Analysts noted that investors are waiting for the results of the upcoming elections in Colombia to choose a new Congress for the 2018-2022 legislature.
The shares of Nutresa (+0.82%), BVC (+0.42%), and Aval (+0.41%) are rising, while Ecopetrol (-0.82%), Davivienda (-0.80%), and Cemargos (-0.61%) trade lower.
The locally traded U.S. dollar closed at 2,875 Colombian pesos, marking a 0.50% rise, due to the drop in oil prices abroad and as investors remain cautious about the legislative elections next Sunday.
Hector Wilson Tovar, an analyst at Acciones y Valores, said that “we see unlikely valuations in the local currency as the market incorporates the uncertainty inherent in the process of legislative elections that the country will experience on the weekend.”