Ibovespa, the main index on the Brazilian stock exchange, reached the historic mark of 150 thousand intraday points this Monday (3) for the first time in history. The achievement represents an increase of approximately 25% in the year, driven by the positive season of corporate balance sheets and expectations regarding the decision on interest rates in Brazil.
The upward movement also reflects the favorable international scenario, especially after the interest rate cut in the United States. The 0.25 percentage point reduction in the American rate has the potential to move around 30 billion dollars from fixed income to variable income globally, with part of these resources reaching emerging markets, including Brazil.
The construction sector has stood out in the market, surprising analysts even in a scenario of high interest rates. The changes in the Minha Casa, Minha Vida program, which now includes properties worth up to 500 thousand reais and families with monthly income of up to 12 thousand reais, have boosted the results of several companies in the sector.
The composition of the index, traditionally concentrated in large companies, also contributed to the result. Approximately half of Ibovespa is made up of eight companies, including names such as Itaú, Bradesco, Banco do Brasil, Petrobras, Vale and Ambev. The consistent performance of these companies throughout the year was fundamental in sustaining the index’s rise.
Analysts project the continuation of the appreciation movement, despite challenges such as the electoral scenario and tariff issues. The expectation of a reduction in the basic interest rate, which could fall from 15% to around 12%, tends to encourage greater participation by individual investors and pension funds in the variable income market.
