The first half of 2021 was positive for the Mexican stock market: 15 of the 55 most relevant companies set all-time highs, this is the highest number of records since 2018, despite only having passed six months of the year.
The Mexican companies that scored highs in the first half of 2021 were: Grupo Cementos Chihuahua, Controladora Nemak, Rotoplas, Volaris, Jose Cuervo, Fibra Prologis, Banorte, Elektra, Walmart, Vesta, Quálitas, Grupo México, La Comer, Telesites and Herdez .
In this group, there are cases such as Grupo Cementos Chihuahua, which has been favored by the increase in construction both in Mexico and the United States, Rotoplas, which expanded its operations in Brazil, and Volaris, which benefits from the increase in the number of flights, according to Iván Santín, independent analyst.
“When we have deep movements where the index (IPC) and issuers are at maximum, it tells us about momentum and interest in the market in general. So far, of the 55 most traded Mexican stocks, 15 have already set a record. The index is not yet at a high, although it can be considered normal, “says Walter Buchanan, chief investment officer at SaveNest.
The S & P / BMV IPC, the main index of the Mexican Stock Exchange (BMV), accumulates a yield of 14.12% in the first six months of the year. The index closed June at 50,289.75 units, 2.76% below its record set on July 25, 2017, of 51,713.38 points.
“The recovery of the Mexican market is still lagging behind compared to the US. Although some issuers have had a good rebound, there is still room for further increases and investors are slowly returning to risky assets, which is how Mexican issuers are classified in the world ”, comments Eugenio Gallegos, independent financial and stock market analyst.
Worldwide, capital flows to stocks from emerging countries – with the exception of China, added inflows of 3.9 billion dollars in June; Chinese stocks showed an inflow of $ 5.2 billion, according to the Institute of International Finance (IFF)
Of the emerging regions that attracted the most capital were Asia and Latin America, with capital inflows of $ 14.4 billion and $ 10.8 billion, respectively.
“Foreign investors will gradually return to emerging markets as vaccination increases in their territories. Vaccination is like insurance to avoid new confinements that could affect the results of the balance sheets, ”says Gallegos.
23.4% of the world’s population has received at least one dose of the COVID-19 vaccine, where 3.04 billion doses have been administered, although only 0.9% of people in low-income countries have received at least one dose , according to information from Our World in Data, a project of the Global Change Data Lab.
In Mexico, 35% of the adult population has at least one dose, according to the Ministry of Health.
