Mexican Stock Exchange Posts Modest Gains Ahead of Long Weekend

The Mexican Stock Market Trims Weekly Gains but Remains Up 1.83%; Index Holds Above Key 52,000 Resistance Level

Mexico’s stock exchanges ended Friday’s session relatively flat. After a positive opening, the indices remained steady by the close, following a day of gains and in anticipation of next week’s Federal Reserve (Fed) announcement.

The main index of the Mexican Stock Exchange (BMV), the S&P/BMV IPC, which tracks the most actively traded local stocks, rose a marginal 0.03% to 52,016.85 points. The FTSE BIVA, from the Institutional Stock Exchange (Biva), edged down 0.05% to 1,080.78.

The market trimmed its accumulated gains for the week, which had reached nearly 2.5%, as investors engaged in profit-taking. However, it still posted a 1.83% increase, and the index held above the key resistance level of 52,000, suggesting potential for further gains.

Within the benchmark index, performance was mixed. Among the top gainers, Industrias Peñoles stood out with a 3.16% increase to 249.15 pesos, followed by Banco del Bajío, which gained 3.01% to 46.21 pesos. On the losing side, PINFRA dropped 4.17% to 178.51 pesos.

Investors will be closely watching next week’s Federal Reserve monetary policy announcement, following its meeting on September 17 and 18. On Monday, the Mexican market will be closed in observance of Mexico’s Independence Day.

Additionally, the Mexican peso appreciated for the third consecutive session this Friday, ending the week with a solid rally. The currency regained ground thanks to optimism ahead of an anticipated monetary decision by the Federal Reserve (Fed).

The exchange rate closed at 19.2142 pesos per dollar. Compared to yesterday’s official close of 19.4724, according to data from the Bank of Mexico (Banxico), this represented a gain of 25.82 cents for the peso, equivalent to a 1.33% increase.