Colombia Markets: COLCAP & the Peso — July 10, 2026

Key Facts

COLCAP slipped 0.87% on July 9 even as its dominant weight Ecopetrol rose 3.50% to 2,515 pesos, a rare split between the index and its heaviest name

The peso did the talking with USD/COP closing near 3,282, down 1.81% on the day and at the strong end of a 3,282–3,887 twelve-month range

Mineros led the fallers down 3.39% to 14,800 pesos, with Grupo Aval’s preferred line off 3.36% and Grupo Nutresa down 2.69% to 303,000 pesos

oil framed the session as Brent eased back after the prior day’s Hormuz-driven spike, taking the shine off the energy trade even as Ecopetrol held its gain

the currency, not equities carried the story, the peso’s climb signalling foreign desks remain comfortable holding Colombian risk while the board digests rates and oil

Today’s Focus

Colombia’s benchmark COLCAP — the basket of the most liquid blue chips on the Bogotá exchange — eased 0.87% on July 9, a soft close that masked an unusual internal split.

The oddity was Ecopetrol: the state oil champion that normally sets the index’s direction rose 3.50% to 2,515 pesos, yet the board still finished lower as miners, financials and food names leaked.

The real signal sat in the currency. The peso rallied hard, with USD/COP closing near 3,282 — down 1.81% on the day and pressing the strong end of its 52-week band, the dollar’s weakest reading against the peso in the range.

For a foreign desk the read is that this was a dispersion day, not a risk-off one: the index dipped on stock-specific drags while the currency told the opposite, calmer story.

What matters today. The peso’s push to 52-week strength — not the modest index dip — is the session’s real tell for offshore money.

01 The session in one read

Bogotá’s board slipped on July 9, the COLCAP closing down 0.87% in a session where the currency, not the index, carried the message.

The twist was that Ecopetrol — the single stock that usually decides whether the COLCAP is red or green — climbed 3.50% to 2,515 pesos, yet the benchmark still fell as losses clustered elsewhere.

The peso, by contrast, powered to fresh 52-week strength, with USD/COP down 1.81% to near 3,282 per dollar, telling offshore desks that appetite for Colombian assets held firm.

So this was a market pulling in two directions at once: a softer equity tape driven by a handful of names, set against a currency that kept advancing.

Assessment — A peso story dressed as an equity dip HIGH

The evidence is consistent: the COLCAP fell 0.87% but the loss was scattered across Mineros, Grupo Aval and Nutresa rather than concentrated in Ecopetrol, which actually rose 3.50% — so the day was sector dispersion, not wholesale selling. The peso’s 1.81% surge to near 3,282 confirms foreign money stayed put; a genuine flight would have weakened the currency, and it did not. The variable to watch is whether the peso can hold below 3,300 as oil settles after the Hormuz spike.

02 The day’s numbers

Measure

Level

Change

Read

COLCAP (BVC close)

2,290 area

−0.87%

soft close, but the drag was scattered not concentrated

USD/COP (peso)

3,282

−1.81%

dollar at its weakest of the 3,282–3,887 range — peso strength

52-week positioning

peso −15.6% vs 52w high

—

currency near its strongest in years

Key technical level

2,320 (index)

—

the post-election ceiling bulls must reclaim to confirm a breakout

The table’s tension is the story: the index eased while the peso surged, a split that keeps Bogotá marching to its own drum rather than a single risk signal.

On positioning, USD/COP at 3,282 sits 15.6% below its 52-week high inside a 3,282–3,887 band — the currency is close to its strongest of the past year, the market’s steadiest support.

The 2,320 zone remains the ceiling; until the index reclaims it, the COLCAP is consolidating rather than trending. The live market board above carries the full instrument closes — this table is a curated read, not a price dump.

Live Market IntelligenceColombia — Live Market BoardInside: market breadth, the sector heatmap, currencies & rates, the Latin America scoreboard and the full instrument board.

Rio Times · Live Market Intelligence

Colombia — Live Market Board

BVC · Bogotá

Jul 10, 2026 · 03:01

MSCI COLCAP · benchmark

2,292.75

-0.87%

L 9.02day rangeH 9.05

Market breadth · 9 names

89% advancing

8 ▲ advancing1 declining ▼

Currencies, rates & key inputs

USD / COP

3,282

-1.81%

Brent crude

76.49

+0.25%

WTI crude

72.24

+0.22%

Sector heatmap · average move today

Mining

+4.23%

BUENAVENTURA

Financials

+2.52%

BANCOLOMBIA, GRUPO AVAL, CREDICORP

Energy

+1.72%

ECOPETROL

Other

+1.60%

BRENT, WTI, SOUTHERN COPPER

Industrials

-1.68%

TECNOGLASS

Latin America scoreboard

IndexLastTodayStrength

IbovespaBrazil

172,742

+1.22%

S&P/BMV IPCMexico

66,107

-0.75%

S&P IPSAChile

11,025

+0.72%

S&P MERVALArgentina

3,202,490

-0.67%

MSCI COLCAPColombia

2,292.75

-0.87%

BVL S&P PerúPeru

54,904.64

+2.35%

Full instrument board

InstrumentLastChangeYoYPrev.HighLowVolume

COLCAP

2,292.75

-0.87%

—

9.04

9.05

9.02

4,133

USD/COP

3,282

-1.81%

-18.38%

3,343

3,282

3,282

—

BRENT

76.49

+0.25%

+11.44%

76.30

76.84

75.91

1,639

WTI

72.24

+0.22%

+8.52%

72.08

72.56

71.22

11,928

ECOPETROL

15.39

+1.72%

+71.00%

15.13

15.42

14.93

2,895,061

BANCOLOMBIA

80.93

+1.15%

+81.05%

80.01

81.55

80.44

159,254

GRUPO AVAL

5.02

+3.72%

+75.52%

4.84

5.06

4.92

56,914

TECNOGLASS

43.20

-1.68%

-43.84%

43.94

44.45

43.01

413,729

CREDICORP

391.77

+2.70%

+75.35%

381.47

394.68

378.41

322,443

BUENAVENTURA

29.56

+4.23%

+79.09%

28.36

29.79

28.55

698,656

SOUTHERN COPPER

174.43

+4.32%

+76.80%

167.21

175.51

169.72

908,728

Largest moves today

SOUTHERN COPPER

174.43

+4.32%

BUENAVENTURA

29.56

+4.23%

GRUPO AVAL

5.02

+3.72%

CREDICORP

391.77

+2.70%

USD/COP

3,282

-1.81%

ECOPETROL

15.39

+1.72%

TECNOGLASS

43.20

-1.68%

BANCOLOMBIA

80.93

+1.15%

The session read

The MSCI COLCAP eased 0.87%, with breadth positive — 8 of 9 names higher. Mining led, while Industrials lagged.

03 Why it moved — oil cooled and the peso ran

The macro anchor, as ever for Colombia, was crude. After the prior session’s Hormuz-driven spike lifted Brent toward $78, prices steadied, and that took some heat out of the broad energy trade even as Ecopetrol held on to a 3.50% gain to 2,515 pesos.

The peso’s rally to near 3,282 did the heavy signalling — a stronger currency, in a market this dependent on oil revenue and foreign carry, points to offshore money still comfortable holding Colombian risk.

The equity softness came from elsewhere: miner Mineros, financial name Grupo Aval and food conglomerate Grupo Nutresa all fell, dragging the board lower despite the oil champion’s bounce.

For an outside investor the lesson is the familiar one — the COLCAP can dip on stock-specific drags while the currency, the cleaner gauge of sentiment, moves the other way.

04 The day’s movers

Driver

Level / Move

Change

Note

Ecopetrol (ECOPETROL)

2,515 pesos

+3.50%

the index’s dominant weight and the day’s top gainer, yet not enough to lift the board

Promigas (PROMIGAS)

6,780 pesos

+2.73%

gas-transport name among the session’s leaders

Organización Terpel (TERPEL)

18,200 pesos

+2.25%

fuel distributor, part of a firmer energy corner

Mineros (MINEROS)

14,800 pesos

−3.39%

the worst performer, gold miner leading the fallers

Grupo Aval pref (PFAVAL)

805 pesos

−3.36%

financial holding weighed on the board

Grupo Nutresa (NUTRESA)

303,000 pesos

−2.69%

food conglomerate gave back part of the prior day’s surge

The mover board is the cleanest read of the split: energy and fuel names higher, a gold miner and financials lower, with the index netting out slightly red.

Ecopetrol’s 3.50% rise to 2,515 pesos would normally have carried the whole COLCAP, so its inability to do so shows how much drag came from Mineros, Grupo Aval and Nutresa.

Turnover figures were not available in the scan and are shown only by price and percentage; the standout is the divergence itself — a rare day when the oil giant rose but the board still fell.

05 The regional scoreboard

Index

Country

Change

COLCAP

Colombia

−0.87%

Ibovespa

Brazil

—

S&P/BMV IPC

Mexico

—

S&P IPSA

Chile

—

S&P MERVAL

Argentina

—

Only Colombia’s July 9 move is independently verified here; the remaining regional closes are shown as “—” rather than guessed, and the live market board above carries them in full.

Colombia’s soft-but-quirky session — a lower index paired with a surging peso — stands apart from the region, a reminder that Bogotá’s fortunes hinge on oil and one dominant stock more than the regional mood.

06 The technical picture

At the close the COLCAP is consolidating rather than trending, still parked below the 2,320 post-election ceiling that bulls need to reclaim to confirm a fresh leg higher.

The currency chart is the more decisive one: USD/COP at 3,282 sits at the strong end of a 3,282–3,887 twelve-month range, 15.6% below the dollar’s 52-week high against the peso.

A sustained break of that floor would mark fresh peso strength and a supportive signal for local assets; a bounce in the dollar would test whether the equity market’s calm holds.

For now the read is a range-bound index pushed about by its largest names, underpinned by a currency near its strongest in years.

07 What to watch

Ecopetrol: the index’s dominant weight — whether its 3.50% bounce extends or fades will set the COLCAP’s tone more than any macro print

The peso: USD/COP near 3,282 is the calmer, cleaner gauge; a break below the floor signals deeper peso strength, a bounce would test equity calm

Oil after Hormuz: whether crude holds its recent gains or eases further, the swing factor for Ecopetrol earnings and the energy weight

The 2,320 level: the post-election ceiling the COLCAP must reclaim to confirm a breakout from its consolidation range

Background: Colombia Hiked Rates to 12%. Inflation Broke 6% a Week Later..

Background: Colombia’s Exports Jumped 19%. It Shipped 18% Less Oil..

Frequently Asked Questions

Did the COLCAP rise or fall on July 9?

Colombia’s COLCAP eased 0.87% on the session, a soft close driven by scattered losses in miners, financials and food names rather than a broad sell-off.

Why did the index fall if Ecopetrol rose?

Ecopetrol gained 3.50% to 2,515 pesos, but drags from Mineros (−3.39%), Grupo Aval preferred (−3.36%) and Grupo Nutresa (−2.69%) outweighed the oil champion’s bounce.

What did the peso do?

The peso rallied, with USD/COP closing near 3,282 — down 1.81% on the day and at the strong end of its 3,282–3,887 twelve-month range, close to its strongest in years.

What is the key level to watch?

On the index, 2,320 is the post-election ceiling bulls must reclaim; on the currency, the 3,282 floor is the level whose break would confirm fresh peso strength.

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