Colombia's benchmark COLCAP index rose 0.13% to 2,301 on Tuesday, supported by a firmer local currency and steadier crude oil prices.
The peso strengthened to 3,256 per dollar, reflecting a broader risk-on mood across Latin American markets.
The benchmark interest rate was raised to 12% on July 1, a move aimed at curbing persistent inflation.
The modest gain extends the positive momentum from Friday, when Colombian equities posted their strongest close in weeks with a 1.57% jump.
That rally was driven by currency stability and improved sentiment around energy prices, factors that continue to underpin investor confidence in the region.
Market participants are closely watching the impact of the central bank's aggressive tightening cycle.
The benchmark interest rate was raised to 12% on July 1, a move aimed at curbing persistent inflation.