Estas son las acciones que más han caído en la Bolsa de Valores en lo corrido de 2022

One word that has characterized the markets in 2022 is ‘volatility’. Since the conflict between Russia and Ukraine began, the stock markets have registered constant movements, which have led to losses, especially in equities; and Colombia is no exception.

As of July 15, the Msci Colcap index, which measures the behavior of the main shares of the Colombian Stock Exchange (BVC), has fallen 10% since the first day of trading this year, despite the fact that in April and in June it exceeded 1,600 points.

The species that registers the greatest decline is that of Mineros (-39.1%), followed by Banco de Bogotá (-38.2%), Cementos Argos (-34.7%), Corficolombiana (-28.5%) , preferential of Cementos Argos (-27.9%), and preferential of Grupo Sura (-27.8%).

On the contrary, the shares that registered profits so far this year are those of Nutresa (48%) and Sura (34.2%), issuers that were purchased in three sets of takeover bids presented by Jaime Gilinski.

According to financial analysts, the downward movement in the local stock market, which has been recorded especially in recent weeks, is explained, in part, by the international situation, given the risk of a global recession and the rise in interest rates by investors. different central banks.

“Internationally, the war in Ukraine and the increased probability of a recession in the United States are causing confidence to be lost and generating portfolio diversification in instruments other than stocks,” said Diego Palencia, Vice President of Research at Solidus Capital Investment Banking. .

In addition, there is the local component. Experts indicate that confidence in Colombia has been lost due to the uncertainty generated by a new leftist government.

“In the country, the greater aversion to risk has meant that there are not enough buyers and there is an outflow of funds. We need investor confidence so that they dare to come to the equity market in Colombia”, explained Andrés Moreno, financial and stock market analyst.

The downward movement would also be explained by the increase in the risk premium and the increase in reference rates, which generates lower cash flow projections.

In the case of Banco de Bogotá and Grupo Aval, the fall is associated with the spin-off process that took place at the beginning of this year, from which a new issuer was born: BAC Holding International (BHI).

“With the change in equity of Banco de Bogotá, there has been a new rearrangement of the market price of its shares. That is why it has fallen, but the fundamentals of that bank are the best in the sector. But another factor that must be taken into account is that the new government wants to increase taxes, probably affecting the banking sector,” Palencia explained.

A stock investment opportunity?

With equities down, some experts agree there may be investment opportunities. “Equities are way down, they don’t reflect book value. You have to take advantage of opportunities when assets have been devalued. Species have already been hit, stock markets anticipate all these kinds of things, so taking advantage of assets is a great option,” Moreno said. However, caution is recommended given the volatility of the markets: some less risky instruments are CDTs and fixed income, such as government bonds.