Stock Markets January 23, 2026

Mexico's S&P/BMV IPC Slips Amid Declines in Key Sectors

Industrial, Consumer Goods, and Consumer Staples Sectors Lead Market Downturn

By Priya Menon
Mexico's S&P/BMV IPC Slips Amid Declines in Key Sectors

Mexican equities registered a downturn on Friday, with the S&P/BMV IPC index closing down 0.22 percent. Declines were predominantly driven by losses in industrial, consumer goods and services, and consumer staples sectors. While several prominent companies saw share price decreases, a handful of firms reported gains, including Megacable Holdings reaching a three-year high.

Key Points

  • The S&P/BMV IPC index declined 0.22% as industrial, consumer goods & services, and consumer staples sectors faced losses.
  • Megacable Holdings’ stock rose to a three-year peak, contributing to positive activity among select stocks.
  • Commodity prices climbed notably, with gold and crude oil futures posting gains, alongside currency fluctuations favoring the peso against the US dollar.

Mexico's stock market experienced a decline at Friday's close, as the S&P/BMV IPC index finished 0.22% lower. The downward trend was underpinned by negative performance across several sectors, notably Industrials, Consumer Goods & Services, and Consumer Staples.

Among the top gainers, Grupo Carso, S.A.B. De C.V. (BMV:GCARSOA1) posted a 2.41% increase, adding 2.97 points to close at 125.99. Gruma SAB de CV (BMV:GRUMAB) followed with a 2.35% rise, up 7.23 points to 314.63, while Megacable Holdings, S.A.B. De C.V. (BMV:MEGACPO) gained 2.25%, or 1.42 points, closing at 64.64. Notably, Megacable's shares reached their highest level in three years.

Conversely, the laggards included Grupo Televisa SAB Unit (BMV:TLEVISACPO), which declined by 2.46%, losing 0.29 points to finish at 11.51. Grupo Aeroportuario del Pacifico SAB De CV Class B (BMV:GAPB) decreased 2.41%, shedding 11.86 points to end at 481.03, and Becle SA (BMV:CUERVO) dropped by 2.30%, down 0.47 points to 20.00.

Market breadth reflected greater selling pressure, with 150 stocks declining compared to 94 advancing, while 14 remained unchanged.

In commodity markets, February gold futures gained 1.39%, increasing by $68.11 to $4,981.51 per troy ounce. Crude oil futures for March delivery rose notably, with West Texas Intermediate up 3.23% or $1.92 to $61.28 per barrel and Brent crude advancing 3.28% or $2.10 to $66.16 per barrel.

Currency movements showed the Mexican peso strengthening against the US dollar, with USD/MXN down 0.53% to 17.38. Meanwhile, EUR/MXN edged up slightly by 0.12% to 20.56. The US Dollar Index Futures declined 0.91%, settling at 97.28.

Risks

  • Sector-specific weaknesses in Industrials and Consumer Goods & Services may pressure market performance going forward.
  • Declines in major stocks such as Grupo Televisa SAB and Grupo Aeroportuario del Pacifico may signal broader challenges in media and transportation sectors.
  • Volatility in currency exchange rates and commodity prices may introduce uncertainties affecting market stability and corporate profitability.

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