The main Argentine index breaks a streak of gains: stocks fall by up to 4.3%.

In the last two sessions, the stock index had accumulated a gain of 9.7%.

On Thursday, March 14th, the S&P Merval falls due to selling pressure, driven by anticipated profit-taking following a nearly 10% jump in previous sessions due to the Central Bank’s (BCRA) relaxation in monetary policy.

In this context, the BYMA stock index declines by 1.4%, reaching 1,036,416.04 units. Over the last two sessions, it had accumulated a 9.7% increase. Consequently, most stocks in the local market are trading lower. The ones experiencing the most significant declines include Grupo Supervielle (-4.3%), Sociedad Comercial del Plata (-3.8%), and Edenor (-3.2%). Meanwhile, the only stocks showing gains are Transportadora de Gas del Norte (+4.3%), Telecom (+1.5%), and Pampa Energía (+0.2%).

On the other hand, Argentine stocks traded on Wall Street are mostly down. The ADRs with the largest declines include Grupo Financiero Galicia (-4.2%), Grupo Supervielle (-4%), and Edenor (-3.7%). Among the few gaining stocks, the most appreciating ones are Despegar (+2.9%), Mercado Libre (+1.3%), and IRSA (+0.9%).

Meanwhile, political attention is focused on the Senate, where later on, the legality of a Decree of Necessity and Urgency (DNU) signed by President Javier Milei shortly after his inauguration in December to deregulate the economy will be discussed.

In addition, on Thursday, March 14th, financial dollars rebounded following a sharp decline in the previous session. Despite the increase, the MEP dollar remains below the blue dollar. This comes amidst a week where the Central Bank (BCRA) pushed for a significant reduction in the benchmark interest rate. The Consumer Price Index (CPI) marked a 13.2% increase in the second month of the year, showing a slowdown in the food and beverage sector, as reported by INDEC.