The Mexican stock market was painted red for the sixth consecutive day this Monday. The local stock market pulled back sharply, with the move widening after mid-session on concerns in the markets over inflation.
The index reference S&P/BMV IPCof the Mexican stock exchange (BMV), fell -1.24% to a level of 50,060.53 units. The FTSE BIVAmain of the Institutional Stock Exchange (Biva), moved -1.16% and closed at the level of 1,034.87 points.
Within the reference index, most of the components closed in the red, with 23 values with losses and 12 with advances. The falls were led by Grupo Financiero Inbursa, with -3.33%; Grupo Televisa, with -3.04%, and Walmex, with 2.7 percent.
Pressure extended his fall
Although the stock markets in the United States began the day positively encouraged by news about the pandemic in China, the Mexican market has fallen since the beginning of operations, extending the streak that subtracted 3.38% last week.
The Mexican stock market stands out from the positive movements of the rest of the indices, Banorte said early. Later, uncertainty about inflation and monetary policy reversed the movements and the Mexican stock market extended its decline.
In six consecutive days with losses from 52,463.55 points, the S&P/BMV IPC accumulates a loss of 4.58 percent. From 1,084.60 units, the FTSE BIVA index also accumulates a loss of 4.58 percent in this streak.