Brazil's main stock market index, the IBOVESPA, fell to 135299 points on July 14, 2025, losing 0.65% from the previous session. Over the past month, the index has declined 2.84%, though it remains 4.62% higher than a year ago, according to trading on a contract for difference (CFD) that tracks this benchmark index from Brazil. Brazil Stock Market (BOVESPA) - values, historical data, forecasts and news - updated on July of 2025.

Key information about Brazil Month End

• Brazil Month End closed at 122,799.1 points in Feb 2025, compared with 126,134.9 points at the previous month end
• Brazil Index: B3: IBOV: Month End data is updated monthly, available from Jan 1983 to Feb 2025, with an average number of 20,666.4 points
• The data reached an all-time high of 136,004.0 points in Aug 2024 and a record low of 0.0 points in Jan 1983

B3 S.A. provides daily data on several major stock market indices, but the BOVESPA index is the one most closely monitored by analysts

Brazil Market Capitalization: Sao Paulo Stock Exchange: USD data was reported at 788.626 USD bn in Apr 2025. This records an increase from the previous number of 752.324 USD bn for Mar 2025. Brazil Market Capitalization: Sao Paulo Stock Exchange: USD data is updated monthly, averaging 762.035 USD bn from Jan 1995 (Median) to Apr 2025, with 364 observations. The data reached an all-time high of 1,593.579 USD bn in Apr 2011 and a record low of 109.250 USD bn in Oct 2002. Brazil Market Capitalization: Sao Paulo Stock Exchange: USD data remains active status in CEIC and is reported by B3 S.A. - Brasil, Bolsa, Balcão. The data is categorized under Global Database’s Brazil – Table BR.ZA005: B3 S.A. – Brasil, Bolsa, Balcao: Market Capitalization: USD.

ABSTRACT The study sought to apply the model developed by Gokhale et al. (2015) to identify the existence of overreaction and behavioral biases in the Brazilian stock market and analyze its performance as an investment strategy on the São Paulo Stock, Commodities, and Futures Exchange (BM&FBOVESPA) in the short term and long term, as well as test its robustness with time window simulations. The impacts of behavioral finance on capital markets can affect economic decisions, perpetuate or increase asset pricing anomalies, and in more extreme and persistent situations contribute to the formation of bubbles that can compromise the entire financial system of a country. The study pioneers an innovative methodology in the Brazilian stock market for identifying behavioral biases and obtaining abnormal returns and higher returns than the Ibovespa. The research uses the model developed by Gokhale, Tremblay, and Tremblay (2015) in three samples with quotations data for Brazilian publicly-traded companies that compose the Ibovespa and IBrA in the period from 2005 to 2016. With the R statistical software, the Fundamental Valuation Index (FVI) was calculated for each sample share and each year. From the FVI index, the undervalued shares were identified, indicating that the sales price does not reflect their economic fundamentals, and portfolio simulations were carried out for investment over three months or the next year. The results indicate the possible existence of overreaction and behavioral biases in the Brazilian stock market, which lead to the possibility of higher abnormal returns than those of the Ibovespa. Similar to the US market, at the end of the 2006-2016 period simulated portfolios yielded more than 274%, while the Ibovespa yielded approximately 80%. The robustness tests attest to the effectiveness of the model. The various investment portfolios, simulated over different time horizons, yielded more than the Ibovespa on average. The study also confirmed the assumptions of Gokhale, Tremblay, and Tremblay (2015) regarding the model's inadequacy for short-term strategies.

B3 S.A. – Brasil, Bolsa, Balcão came into existence in its present form through the amalgamation of BM&F (Commodities & Futures Exchange), Bovespa (São Paulo Stock Exchange), and Cetip (Central of Custody and Financial Settlement of Securities for the organized OTC market). Today, it ranks among the globe's largest financial market infrastructure firms, offering trading services in both Exchange and OTC settings. Our offerings include the primary market information services of B3, accessible in real time or as delayed data for all instruments within its Indices, Level 1, and Level 2 (market depth) products. This covers all asset categories such as equity, ETFs, commodities, and more. You can obtain the data in numerous ways, all customized to fit your specific needs and workflows. These methods range from electronic low latency datafeed for trading through our desktop services, which provide comprehensive analytical tools, to our end-of-day valuation and risk management products.

Brazil Market Capitalization: Sao Paulo Stock Exchange data was reported at 4,464,253.417 BRL mn in Apr 2025. This records an increase from the previous number of 4,319,995.633 BRL mn for Mar 2025. Brazil Market Capitalization: Sao Paulo Stock Exchange data is updated monthly, averaging 2,189,978.988 BRL mn from Jan 1995 (Median) to Apr 2025, with 364 observations. The data reached an all-time high of 5,654,220.272 BRL mn in Jun 2021 and a record low of 118,525.880 BRL mn in Mar 1995. Brazil Market Capitalization: Sao Paulo Stock Exchange data remains active status in CEIC and is reported by B3 S.A. - Brasil, Bolsa, Balcão. The data is categorized under Global Database’s Brazil – Table BR.ZA004: B3 S.A. – Brasil, Bolsa, Balcao: Market Capitalization. [COVID-19-IMPACT]

Brazil BR: Stocks Traded: Total Value: % of GDP data was reported at 66.199 % in 2022. This records a decrease from the previous number of 84.382 % for 2021. Brazil BR: Stocks Traded: Total Value: % of GDP data is updated yearly, averaging 16.274 % from Dec 1979 (Median) to 2022, with 44 observations. The data reached an all-time high of 93.055 % in 2020 and a record low of 1.005 % in 1989. Brazil BR: Stocks Traded: Total Value: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Brazil – Table BR.World Bank.WDI: Financial Sector. The value of shares traded is the total number of shares traded, both domestic and foreign, multiplied by their respective matching prices. Figures are single counted (only one side of the transaction is considered). Companies admitted to listing and admitted to trading are included in the data. Data are end of year values.;World Federation of Exchanges database.;Weighted average;Stock market data were previously sourced from Standard & Poor's until they discontinued their 'Global Stock Markets Factbook' and database in April 2013. Time series have been replaced in December 2015 with data from the World Federation of Exchanges and may differ from the previous S&P definitions and methodology.

Key information about Brazil Market Capitalization

• Brazil Market Capitalization accounted for 704.236 USD bn in Feb 2025, compared with a percentage of 731.826 USD bn in the previous month
• Brazil Market Capitalization is updated monthly, available from Jan 1995 to Feb 2025
• The data reached an all-time high of 1,593.579 USD bn in Apr 2011 and a record low of 109.250 USD bn in Oct 2002

B3 S.A. - Brasil, Bolsa, Balcão provides monthly Market Capitalization in USD.

162.65 (ratio) in 2022. Turnover ratio is the total value of shares traded during the period divided by the average market capitalization for the period. Average market capitalization is calculated as the average of the end-of-period values for the current period and the previous period.

Brazil B3 Index: Special Corporate Governance Stock Index (IGC) data was reported at 15,923.080 25Jun2001=1000 in 11 Jul 2019. This records a decrease from the previous number of 16,023.810 25Jun2001=1000 for 10 Jul 2019. Brazil B3 Index: Special Corporate Governance Stock Index (IGC) data is updated daily, averaging 6,746.940 25Jun2001=1000 from Jun 2001 (Median) to 11 Jul 2019, with 4465 observations. The data reached an all-time high of 16,023.810 25Jun2001=1000 in 10 Jul 2019 and a record low of 758.540 25Jun2001=1000 in 14 Sep 2001. Brazil B3 Index: Special Corporate Governance Stock Index (IGC) data remains active status in CEIC and is reported by B3 S.A.. The data is categorized under Daily Database’s Financial and Futures Market – Table BR.ZA001: B3: Index: Daily.

Brazil Reserve Requirements: FI: Securities: Time Deposits data was reported at 0.000 BRL mn in Mar 2025. This stayed constant from the previous number of 0.000 BRL mn for Feb 2025. Brazil Reserve Requirements: FI: Securities: Time Deposits data is updated monthly, averaging 0.000 BRL mn from Jan 1995 (Median) to Mar 2025, with 363 observations. The data reached an all-time high of 60,546.000 BRL mn in Sep 2008 and a record low of 0.000 BRL mn in Mar 2025. Brazil Reserve Requirements: FI: Securities: Time Deposits data remains active status in CEIC and is reported by Central Bank of Brazil. The data is categorized under Global Database’s Brazil – Table BR.KAA025: Reserve Requirement . Brazilian Central Bank has made changes in methodology of Financial System Credit Data in February of 2013 after 13 years following the same methodology. These changes are necessary face the expansion of credit, favored by the improvement of the indicators of employment and income, continuous and sharp reduction of the interest rates and by important institutional advances. It is essential the availability of new information, in particular, which allows more detailed monitoring of credit arrangements with targeted resources, especially real estate financing, whose dynamism has contributed to reducing the housing deficit in the country. The main change includes coverage of data on concessions, interest rates, terms and default rates that were extended to the segment of directed credit and also became necessary to further detailing the statistical framework, to enable identification of the terms most relevant as well as reduce the relative share of loans not classified - embedded in 'other receivables'. Banco Central do Brasil fez mudanças na metodologia de Dados de Crédito do Sistema Financeiro, em fevereiro de 2013 depois de 13 anos seguindo a mesma metodologia. Essas mudanças são fundamentais face a expansão do crédito, favorecido pela melhora dos indicadores de emprego e renda, redução contínua e acentuada das taxas de juro e por importantes avanços institucionais. É imprescindível a disponibilidade de novas informações, em particular, que possibilitem o acompanhamento mais detalhado das modalidades de crédito com recursos direcionados, sobretudo os financiamentos imobiliários, cujo dinamismo tem contribuído para a redução do déficit habitacional no País. A principal alteração compreende a cobertura dos dados relativos a concessões, taxas de juros, prazos e índices de inadimplência que passam a serem estendidos ao segmento de crédito direcionado e também se fez necessário aprofundar o detalhamento do arcabouço estatístico, de modo a possibilitar a identificação das modalidades mais relevantes, bem como reduzir a participação relativa das operações de crédito não classificadas – incorporadas em “outros créditos”.

Brazil Broad Money Supply: M2: Private Securities: Time Deposit data was reported at 944,936.058 BRL mn in Sep 2018. This records an increase from the previous number of 942,887.517 BRL mn for Aug 2018. Brazil Broad Money Supply: M2: Private Securities: Time Deposit data is updated monthly, averaging 574,867.515 BRL mn from Dec 2001 (Median) to Sep 2018, with 202 observations. The data reached an all-time high of 944,936.058 BRL mn in Sep 2018 and a record low of 110,159.623 BRL mn in Dec 2001. Brazil Broad Money Supply: M2: Private Securities: Time Deposit data remains active status in CEIC and is reported by Central Bank of Brazil. The data is categorized under Global Database’s Brazil – Table BR.KAA005: Money Supply.

Brazil BR: Stocks Traded: Turnover Ratio of Domestic Shares data was reported at 162.655 % in 2022. This records a decrease from the previous number of 172.786 % for 2021. Brazil BR: Stocks Traded: Turnover Ratio of Domestic Shares data is updated yearly, averaging 67.124 % from Dec 2000 (Median) to 2022, with 23 observations. The data reached an all-time high of 172.786 % in 2021 and a record low of 30.047 % in 2003. Brazil BR: Stocks Traded: Turnover Ratio of Domestic Shares data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Brazil – Table BR.World Bank.WDI: Financial Sector. Turnover ratio is the value of domestic shares traded divided by their market capitalization. The value is annualized by multiplying the monthly average by 12.;World Federation of Exchanges database.;Weighted average;Stock market data were previously sourced from Standard & Poor's until they discontinued their 'Global Stock Markets Factbook' and database in April 2013. Time series have been replaced in December 2015 with data from the World Federation of Exchanges and may differ from the previous S&P definitions and methodology.

Brazil Stock Funds data was reported at 390,419.853 BRL mn in Jun 2019. This records an increase from the previous number of 369,104.799 BRL mn for May 2019. Brazil Stock Funds data is updated monthly, averaging 187,014.425 BRL mn from Dec 2008 (Median) to Jun 2019, with 127 observations. The data reached an all-time high of 390,419.853 BRL mn in Jun 2019 and a record low of 115,341.613 BRL mn in Dec 2008. Brazil Stock Funds data remains active status in CEIC and is reported by Central Bank of Brazil. The data is categorized under Brazil Premium Database’s Financial Market – Table BR.ZC004: Investment, Extramarket and Stock Funds.

Brazil Index: Sao Paulo Stock Exchange: Electric Power Index data was reported at 96,101.000 29Dec1994=1000 in Apr 2025. This records an increase from the previous number of 85,279.930 29Dec1994=1000 for Mar 2025. Brazil Index: Sao Paulo Stock Exchange: Electric Power Index data is updated monthly, averaging 24,854.495 29Dec1994=1000 from Sep 1996 (Median) to Apr 2025, with 344 observations. The data reached an all-time high of 96,101.000 29Dec1994=1000 in Apr 2025 and a record low of 1,356.640 29Dec1994=1000 in Jan 1999. Brazil Index: Sao Paulo Stock Exchange: Electric Power Index data remains active status in CEIC and is reported by B3 S.A. - Brasil, Bolsa, Balcão. The data is categorized under Global Database’s Brazil – Table BR.ZA002: B3 S.A. – Brasil, Bolsa, Balcao: Index: Monthly.

Key information about Brazil Market Capitalization: % of GDP

• Brazil Market Capitalization accounted for 42.4 % of its Nominal GDP in Dec 2022, compared with a percentage of 51.0 % in the previous year
• Brazil Market Capitalization: % Nominal GDP is updated yearly, available from Dec 1980 to Dec 2022
• The data reached an all-time high of 91.1 % in Dec 2007 and a record low of 3.3 % in Dec 1990

CEIC calculates Market Capitalization as % of Nominal GDP from annual Market Capitalization and annual Nominal GDP. B3 S.A. - Brasil, Bolsa, Balcão provides Market Capitalization in local currency. The Central Bank of Brazil provides Nominal GDP in local currency based on SNA 2008. Market Capitalization as % of Nominal GDP prior to 1994 is calculated from Market Capitalization in USD and Nominal GDP in USD based on SNA 1993

Brazil BR: Index: Share Price (End of Period) data was reported at 173.559 2010=100 in 2024. This records a decrease from the previous number of 193.618 2010=100 for 2023. Brazil BR: Index: Share Price (End of Period) data is updated yearly, averaging 64.172 2010=100 from Dec 1992 (Median) to 2024, with 33 observations. The data reached an all-time high of 193.618 2010=100 in 2023 and a record low of 0.010 2010=100 in 1992. Brazil BR: Index: Share Price (End of Period) data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Brazil – Table BR.IMF.IFS: Share Price Index: Annual.

Brazil BR: International Migrant Stock: Total data was reported at 713,568.000 Person in 2015. This records an increase from the previous number of 592,568.000 Person for 2010. Brazil BR: International Migrant Stock: Total data is updated yearly, averaging 871,539.500 Person from Dec 1960 (Median) to 2015, with 12 observations. The data reached an all-time high of 1,397,119.000 Person in 1960 and a record low of 592,568.000 Person in 2010. Brazil BR: International Migrant Stock: Total data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Brazil – Table BR.World Bank.WDI: Population and Urbanization Statistics. International migrant stock is the number of people born in a country other than that in which they live. It also includes refugees. The data used to estimate the international migrant stock at a particular time are obtained mainly from population censuses. The estimates are derived from the data on foreign-born population--people who have residence in one country but were born in another country. When data on the foreign-born population are not available, data on foreign population--that is, people who are citizens of a country other than the country in which they reside--are used as estimates. After the breakup of the Soviet Union in 1991 people living in one of the newly independent countries who were born in another were classified as international migrants. Estimates of migrant stock in the newly independent states from 1990 on are based on the 1989 census of the Soviet Union. For countries with information on the international migrant stock for at least two points in time, interpolation or extrapolation was used to estimate the international migrant stock on July 1 of the reference years. For countries with only one observation, estimates for the reference years were derived using rates of change in the migrant stock in the years preceding or following the single observation available. A model was used to estimate migrants for countries that had no data.;United Nations Population Division, Trends in Total Migrant Stock: 2012 Revision.;Sum;

Brazil BR: Market Capitalization: Listed Domestic Companies data was reported at 794.418 USD bn in 2022. This records a decrease from the previous number of 815.877 USD bn for 2021. Brazil BR: Market Capitalization: Listed Domestic Companies data is updated yearly, averaging 815.877 USD bn from Dec 2000 (Median) to 2022, with 23 observations. The data reached an all-time high of 1,545.566 USD bn in 2010 and a record low of 126.762 USD bn in 2002. Brazil BR: Market Capitalization: Listed Domestic Companies data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Brazil – Table BR.World Bank.WDI: Financial Sector. Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values converted to U.S. dollars using corresponding year-end foreign exchange rates.;World Federation of Exchanges database.;Sum;Stock market data were previously sourced from Standard & Poor's until they discontinued their 'Global Stock Markets Factbook' and database in April 2013. Time series have been replaced in December 2015 with data from the World Federation of Exchanges and may differ from the previous S&P definitions and methodology.

Brazil Stocks of Finished Products: Actual or Planned data was reported at 51.600 Point in May 2019. This records an increase from the previous number of 51.300 Point for Apr 2019. Brazil Stocks of Finished Products: Actual or Planned data is updated monthly, averaging 50.600 Point from Jan 2010 (Median) to May 2019, with 113 observations. The data reached an all-time high of 53.700 Point in Jul 2011 and a record low of 48.400 Point in Jan 2010. Brazil Stocks of Finished Products: Actual or Planned data remains active status in CEIC and is reported by National Confederation of Industry. The data is categorized under Brazil Premium Database’s Business and Economic Survey – Table BR.SC003: CNAE 2.0: Stock of Finished Products. Note:CNAE 2.0 = Classificação Nacional de Atividades Econômicas 2.0 or National Classification of Economic Activity 2.0