Among the most active stocks, Ecopetrol led volume with COP 75.5 billion traded and a 2.91% price rise, followed by the iCOLCAP ETF at COP 65.4 billion and Grupo Cibest preferred shares at COP 48.6 billion. The top gainers were ISA, appreciating 5.36% to historic highs, Ecopetrol up 2.91%, and Banco de Bogotá advancing 2.42%. Grupo Nutresa recorded the largest decline with a 1.79% decrease.
ISA’s stock price has outpaced the market, trading around COP 32,080 as of mid-January, with gains over 27% year-to-date and more than 80% over the last year. The company is executing significant infrastructure projects domestically and regionally, including the recent commissioning of a high-altitude electrical substation in Peru and ongoing initiatives in Brazil to enhance grid stability. ISA anticipates capital expenditures between COP 6.2 and 6.8 trillion in 2026, reinforcing its position as a key infrastructure driver.
Ecopetrol’s positive momentum is supported by improving oil prices and geopolitical dynamics linked to the 2026 elections, contributing to a 2.31% share price increase recently. The robust market activity and record-level valuations reflect investor confidence in Colombia’s utilities and energy sectors, underpinned by infrastructure investments and favorable macroeconomic trends heading into 2026.
This article was curated and published as part of our South American energy market coverage.
