The Mexican Stock Market (BMV) registered this Thursday a marginal advance of the 0.07% in its main indicator, until reaching 53 thousand 426.77 unitson a day in which the US stock indices closed with heavy losses.
“The US stock indices closed with heavy losses due to the nervousness caused by the collapse of the Silvergate Capital Corp. bank,” explained the economic analyst at Banco Base, Alfredo Sandoval.
In Mexico, on the contrary, the Index of Prices and Quotations of the Mexican Stock Exchange, the main indicator of the BMV, “recorded a slight gain of 0.07%”.
“This is possibly related to the depreciation suffered by the Mexican peso against the US dollar, since the potential yield for foreigners rises in the scenario that the exchange rate resumes its downward trend,” said the specialist.
He highlighted that, within the CPI, of the 36 main issuers, 16 registered gains and 20 losses.
The analyst warned that Friday will be an important day for the financial markets with the publication of the employment report for February in the United States.
With today’s advance, the index posts a gain of 10.24% so far this year. In addition, it is positioned at a -5.6% from its all-time high of 56 mil 609.54reached the April 1, 2022.
During the session, the peso depreciated a 0.66% against the dollar, when trading at 18.1 units per greenbackafter quoting 17.98 in the previous day, according to data from the Bank of Mexico.
On the day the peso touched an exchange rate with respect to the dollar of 17.89a level not seen since September 26, 2017.
The IPC closed the session in 53 thousand 426.77 unitswith a profit 38.11 points and a positive variation of the 0.07% compared to the previous day.
The volume traded in the market reached 262 million of titles for an amount of 17,076 million pesos.
Of the 562 companies who quoted on the day, 256 they ended up with their prices rising, 279 they had losses and 27 closed without changes.
The titles with the greatest upward variation were from the home equipment trading company Grupo Famsa (GFAMSA A), with 151.35%; the Inter-American Entertainment Corporation (CIE), with 17.11%and the household products company Vasconia Group (VASCONI), with 5.67%.
In contrast, the largest downward variations were from the Hotel Group Santa Fe (Hotel), with the -3.33%; the media conglomerate Televisa Group (TLEVISA CPO)con -2.84%and the mining Grupo México (GMEXICO B), with -2.68%.
In the day, two sectors won, the industrial (0.26%) and the one of frequent consumption (0.01%)one lost, the financier (-0.21%) and one did not register percentage variation, that of materials (0%).
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