With this performance, the Mexican Stock Market registers its best month since November 2020 and is one of the best starts to the year among the main stock markets in the world. At the current level, the main index of the Mexican market is only 4% from its historical maximum registered in April 2022 (56,609.54 units).
“We can highlight some factors, such as the good expectations that we have regarding this season of quarterly reports, it would be expected that Mexican companies present accelerated growth, which would have a positive impact on the shares,” said Jacobo Rodríguez, director of analysis of Black Wall Street Capital.
The specialist added that the valuations of the Mexican market have been cheap, what can be observed is a search of capital for regions that can offer high returns and without a doubt, Mexico has been a good option.
In terms of market capitalization, the broadcasters that make up the S&P/BMV IPC totaled more than 810,000 million pesos in January and the shares that contributed the most to growth were: Televisa, with 30%; Volaris, with 28.9%; Cemex, with 27.4%; Grupo Financiero Inbursa, with 23.3% and Banco del Bajío, with 23.3%. On the other hand, only Elektra and Sitios Latinoamerica decreased 5.8 and 6.8%, respectively.
“Banks have had positive results, so that helps that positive feeling towards Mexico, where banks are still giving a guide to positive results and a very healthy credit portfolio. The Fibras (Infrastructure and Real Estate Trusts) that will be promoted by the nearshoring and then consumption remains resilient in Mexico (as predicted by the good result of Kimberly Clark from Mexico)”, commented Almudena Ruiz, director of variable income management at Finamex.
On Wall Street, the S&P 500 index gained 6.2% to 4,076.6 points in the month, its first rise for the month of January since 2019, after a brutal 2022 in which it sank 19.4%. For its part, the Nasdaq index advanced 10.7% to 11,584.55 points and the Dow Jones gained 2.8% to 34,086.04 units.
