Brazil: Capital Markets Stats
Brazilian Capital Market: Statistics
Listed Companies
At the close of 1995, there were 874 public companies in Brazil, of which 570 whose shares were listed on the stock exchanges. Below is a chart showing changes in the number of companies listed on the exchanges since 1973:
Number of Companies Listed on Brazilian Stock Exchanges
| By end of | Quantity |
| 1973 | 690 |
| 1982 | 607 |
| 1990 | 616 |
| 1992 | 591 |
| 1993 | 577 |
| 1994 | 569 |
| 1995 | 570 |
Source: The CVM
Capitalization of Brazilian Open Companies (in US$ billions)
The total market value of Brazilian public corporations at the close of 1995 was some US$147.6 billion. Below is a chart illustrating developments in total capitalization as a percentage of the GDP:
| Year | Capitalization | % of GDP |
| 1983 | 15,102 | 6.0 |
| 1985 | 42,768 | 14.0 |
| 1987 | 16,900 | 4.7 |
| 1989 | 44,368 | 11.1 |
| 1991 | 42,759 | 7.7 |
| 1992 | 45,261 | 8.2 |
| 1993 | 96,698 | 16.8 |
| 1994 | 185,352 | 30.0 |
| 1995 | 147,560 | 23.4 |
Source: The CVMSegmentation of Volumes Negotiated
As explained above, BOVESPA and SENN account for all trading on the Brazilian market. The table below gives statistics for the Brazilian exchanges:
Volumes Negotiated on Principal Brazilian Stock Exchange (in US$ millions)
| BOVESPA | SENN | Total | |
| Av. monthly vol. on cash mkt. | 4,780.5 | 878.6 | 5,659.1 |
| Av. daily vol. on cash mkt. | 234.15 | 45.26 | 279.41 |
| Av. daily vol. futures/options | 47.63 | 9.99 | 57.62 |
| Av. monthly no. bonds negotiated | 547,795.770 | 242,841.315 | 790,637.085 |
Source: The CVM
Companies most traded at Bovespa in 1995
The shares most commonly traded on the cash market were as follows:
| Company | Share % |
| Telebrás PN | 53.94 |
| Petrobrás PN | 6.02 |
| Eletrobrás ON | 4.54 |
| Vale do Rio Doce PN | 4.34 |
| Eletrobrás PNB | 4.24 |
Source: Bovespa
Performance of the Principal Indices
The performance of the Brazilian stock market is illustrated by the indices for the two major stock exchanges, Ibovespa and IBV, and, furthermore, by the index maintained by the Electronic System for National Negotiation or I-SENN.
The principal Brazilian indices were created with the objective of recording the performance of their respective markets. They are developed to consider the relative contribution of each asset in the total financial volume of transactions. As the market tends to concentrate on relatively few shares, the indices naturally reflect this trend. For this reason, the indices for the Brazilian exchanges cannot always be regarded as an accurate reflection of the country's economic situation. As the market is currently excessively concentrated, they above all reflect the variations in prices of a limited number of shares.
Nominal variations of the principal indices for Brazilian shares (1992-95)
Below are percentage variations per month of the principal indices during the period 1992 to 1995:
| Ibovespa | I-SENN | |||||||
| Period | 1992 | 1993 | 1994 | 1995 | 1992 | 1993 | 1994 | 1995 |
| January | 84.4 | 36.9 | 97.2 | -10.8 | 269.6 | 33.1 | 101.2 | -7.7 |
| February | 29.4 | 51.3 | 42.3 | -15.8 | 26.9 | 46.6 | 42.1 | -18.4 |
| March | 21.1 | 36.5 | 43.8 | -8.9 | 16.6 | 35.0 | 49.6 | -6.6 |
| April | 28.6 | 25.6 | 8.9 | 28.0 | 28.7 | -88.1 | 8.9 | 28.5 |
| May | 14.8 | 47.0 | 44.4 | -2.4 | 17.5 | 49.3 | 46.2 | -3.1 |
| June | -22.6 | 51.8 | 46.9 | -3.2 | -18.5 | 54.2 | 47.4 | -1.6 |
| July | 33.5 | 22.0 | 16.0 | 7.6 | 30.6 | 19.8 | -88.4 | 5.5 |
| August | 21.9 | 47.0 | 26.9 | 11.2 | 14.0 | 51.5 | 27.5 | 5.2 |
| September | 36.2 | 52.0 | 2.9 | 8.3 | 26.1 | 60.4 | 11.2 | 8.7 |
| October | 3.8 | 25.8 | -12.5 | -11.6 | 7.5 | 26.5 | -5.2 | -8.5 |
| November | -0.9 | 48.7 | -3.0 | 6.1 | 6.3 | 50.3 | -6.6 | 0.8 |
| December | 48.2 | 37.0 | -6.5 | -1.8 | 37.2 | -85.8 | -3.5 | 0.4 |
| Accum. in yr. | 1,015.8 | 5,437.0 | 1,021.0 | -1,3 | 1,881.0 | -43.0 | 41.0 | -3.8 |
Source: BOVESPA and BVRJ