BMV reached a new all-time high for the third consecutive day

The Mexican Stock Exchange (BMV) continues its good run, after it gained 0.46% on its main indicator on Tuesday, reaching 55,722.48 points, reaching a new all-time high for the third consecutive day.

Just last Friday, the BMV reached 55,467.06 points after it reached 54,364.51 units on Thursday.

With the advance of this day, the CPI accumulates a return so far this year of 4.58%, its greatest advance since the second week of January 2021.

On the day, the Mexican peso appreciated 0.49% against the dollar, trading at 20.27 units per greenback on the interbank market.

The CPI closed at 55,722.48 units with a gain of 255.42 points and a positive variation of 0.46% compared to the previous session.

The volume traded on the market reached 300.8 million securities for an amount of 29,112 million pesos (about 1,436.2 million dollars).

Of the 677 companies listed on the day, 407 ended up with their prices rising, 244 had losses and 26 closed unchanged.

The titles with the highest variation were held by the airline Aeromexico (AEROMEX) with 9.68%, the motor transport company Grupo Traxion (TRAXION A) with 6.8% and the developer Corporación Inmobiliaria Vesta (VESTA), with 6.37%.

In contrast, the securities with the greatest downward variation were from Grupo Financiero Banorte (GFNORTE O) with -7.2%, the household product marketer Grupo Famsa (GFAMSA A) with -6.4% and the company Value Grupo Financiero (VALUEGF O) with -4.78%.

During the day, the four sectors won, starting with industrial (2.11%), followed by materials (0.92%), frequent consumption (0.64%) and finance (0.31%).

In this way, the Mexican Stock Exchange continues on a very good run, despite the complicated national economic environment as well as the war between Russia and Ukraine, which is almost a month old.

It should be recalled that inflation in Mexico reached 7.28% at the end of last February, a situation that according to various analysts, will continue its upward trend. This Thursday, March 24, the National Institute of Statistics and Geography (Inegi) will release the results of the National Consumer Price Index (INPC) for the first half of March, so inflation is expected to continue its upward trend.

Against this background, the financial group Citibanamex released its survey in which analysts expect the Banco de México (Banxico) to raise its benchmark interest rate by 50 basis points (bp), to reach 6.5% at its next monetary policy meeting scheduled for Thursday, March 24.

In early February, the Banco de México raised the benchmark interest rate to 6%, citing a longer duration and magnitude of inflation pressures, making it the sixth consecutive increase.

With information from EFE

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