In the local stock market, the rises were led by Nvidia (+5.8%), Facebook (+5.8%) and Mercado Libre (+5.6%). The declines were led by Banco Bradesco, which lost 7.8%. As for the Cedears ETFs, the highest rise corresponded to the technological index that grew 4.4% and the most important drop was for MSCI Brazil 0.5%.
In dialogue with Ámbito, the market analyst, Santiago Llulopined: “The great protagonists are still the Cedears that operate more than 3 times than the shares, the preference is shown for example AAPL that operated 240 million pesos, and the weak FB or Meta recovered with a 6% increase and a similar volume of 235 million. The most interesting thing of the day is the decline in stock exchange rates and the MEP, which is achieved at 205 pesos, is attractive.”
For its part, José Bano, Research Manager at Inversión On Line, in dialogue with Ámbito, opined: “The volume is notorious. Since the Cedears ETFs are in, they have doubled the volume traded. They trade about a billion pesos per day and the others also increased. This day there was a recovery in some technology companies, such as Square, which rose 8%. There is also Nvidia, which entered the top of the most valuable companies“.
Bano continued his analysis of the papers that rose the most this day: “Meta grew and was super punished because it presented a balance that caused it to lose almost 30%. Now it seems that the selling momentum has finally ended and today it marked an increase. Something similar to Mercado Libre that came to be worth US$2,000 a share and, at this moment, is in the middle. Alibaba is also noteworthy, since it is a super hit Chinese company from some government interventions. From the maximum in October 2020 until now it has fallen 60%, it seems to have found a floor and today it is recovering.”
This day, $3,374 million in variable income were traded, of which 18%, $633 million, corresponded to Argentine shares and 82%, $2,732 million, to Cedears.
On Wall Street, the Dow Jones Industrial Average rose 0.86% to 35,768.99 points, while the S&P 500 gained 1.45% to 4,587.21. The Nasdaq rose 2.08% to 14,490.37 points. Meta Platforms rose, ending four sessions of sharp declines that saw it lose almost a third of its value. The biggest boosts to the S&P 500 came from Nvidia and Microsoft.
Source: Ambito
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