The Mexican stock market record high saw the S&P/BMV IPC climb to 59,669.10 points on May 27, 2025, driven by foreign investors returning after Memorial Day.
The Mexican Stock Exchange rallied to a new all-time intraday peak on Tuesday, as its flagship index, the S&P/BMV IPC, surged to 59,669.10 points. Foreign investors poured back into the market after the U.S. Memorial Day holiday, lifting volumes and prices across major sectors.
Market data shows that local trading volumes plunge by as much as 90 percent when U.S. exchanges close for holidays. On Tuesday, that drop reversed sharply as U.S. investors resumed buying Mexican equities, propelling the index to its record level shortly after the opening bell.
Despite the intraday milestone, the S&P/BMV IPC eased to close at 58,593.83 points, marking a modest 0.23 percent gain on the session. Traders noted that profit-taking around the record high weighed on the late-afternoon rebound, but the overall mood remained upbeat.
Banorte’s technical analysts flagged the market’s strength but cautioned that a pullback could follow if prices fail to hold key levels. “The index ran into resistance at 59,020 points,” wrote Víctor Cortes Castro, Banorte’s deputy director of Technical Analysis. He added that a drop toward the psychological support at 57,000 points could test investor conviction.
Castro’s team tracks momentum indicators that have climbed sharply over the last month. Those readings suggest rising overbought conditions. Still, Banorte sees the broader trend as positive, driven by recovering corporate earnings and a firmer peso.
In an interview earlier this week, Marcos Martínez Gavica, president of the BMV, noted that the S&P/BMV IPC has jumped about 18 percent so far this year—an increase he described as hard to explain with traditional metrics alone. “We’ve seen a recovery in both the stock market and the peso,” Martínez Gavica said, pointing to loose global liquidity and solid domestic fundamentals.
The exchange reported record revenues in the first quarter, fueled by higher trading fees and a rebound in IPOs. Still, Martínez Gavica acknowledged that many listed companies remain undervalued compared with regional peers. He argued that cheap valuations have discouraged new listings, since companies hesitate to sell equity at low multiples.
“That undervaluation is one reason we’ve seen fewer placements,” he said. “When business owners look to raise capital, they don’t want to sell shares cheaply.” Martínez Gavica urged firms to bolster their financial profiles and corporate governance. He explained that well-prepared companies can tap both bank financing and equity markets to fund growth.
He emphasized that banks and the stock market serve different needs but work together to channel capital to entrepreneurs. “Companies should be ready to seek bank loans, issue debt, or list shares,” he said. “They need the flexibility to choose the best option when opportunities arise.”
Analysts say that improving corporate standards could unlock fresh supply in the market and attract long-term investors. Higher listing volumes would deepen liquidity and help curb volatility spikes around major events like U.S. holidays.
Looking ahead, traders will watch the BMV’s ability to sustain levels above 59,000 points. A successful break above that ceiling could pave the way toward the next technical target near 61,000. Conversely, a drop below 57,000 could signal a broader correction and test confidence in the market’s upward trajectory.
For now, foreign participants remain a key driver. As global investors hunt for yield, Mexico’s relatively high real interest rates and stable macro outlook have made local equities more attractive. Any shift in U.S. monetary policy or geopolitical tensions, however, could quickly reverse flows.