Brazil’s benchmark Ibovespa index closed the second quarter on a sour note, falling 0.68% to 172,024 on June 30.
The decline capped a challenging three-month period for the market, which finished the quarter down approximately 8% as persistent foreign capital outflows and soft fiscal data continued to weigh on investor sentiment.
44% to 170,507 on June 24, halting a brief rally as selling pressure from heavyweight names like Petrobras and Vale overwhelmed gains in the financials sector.
The sell-off was broad-based but particularly acute in the energy and mining sectors, which have been primary drivers of recent volatility.
This follows a pattern observed earlier in the month, when the index retreated 0.44% to 170,507 on June 24, halting a brief rally as selling pressure from heavyweight names like Petrobras and Vale overwhelmed gains in the financials sector.
Foreign investors have remained cautious, with net outflows persisting throughout the quarter.
Concerns over Brazil’s fiscal trajectory and broader macroeconomic headwinds have limited buying interest, keeping the market well off its recent highs.