Stock Markets January 30, 2026

Sao Paulo Stocks Slip as Basic Materials, Financials and Power Weigh on Bovespa

Bovespa closes down 1.37% amid sector losses; select consumer and agricultural names buck the decline

By Caleb Monroe
Sao Paulo Stocks Slip as Basic Materials, Financials and Power Weigh on Bovespa

Brazil's equity market finished lower on Friday, with the Bovespa shedding 1.37% at the close in Sao Paulo as losses in Basic Materials, Financials and Electric Power pressured the index. While several industrial and mining stocks slid, a handful of consumer and agricultural shares posted gains. Currency and commodity moves accompanied the negative close.

Key Points

  • Bovespa closed down 1.37% as Basic Materials, Financials and Electric Power underperformed - these sectors pressured the index.
  • Top gainers included Cvc Brasil ON (+14.35%), Vivara Participacoes (+2.31%) and SLC Agricola (+1.26%), while key industrial and mining names such as USIMINAS, CSNA3 and CMIN3 were among the largest decliners.
  • Commodities and foreign exchange moved during the session: gold fell sharply, crude oil rose modestly, coffee eased, and USD/BRL strengthened.

Brazilian equities ended the session lower on Friday as sector-level weakness in Basic Materials, Financials and Electric Power drove headline losses.

At the Sao Paulo close, the Bovespa dropped 1.37%.

Among individual movers, the session's top performer was Cvc Brasil ON (BVMF:CVCB3), which advanced 14.35% or 0.32 points to finish at 2.55. Vivara Participacoes SA (BVMF:VIVA3) added 2.31% or 0.63 points to close at 27.96, while SLC Agricola SA (BVMF:SLCE3) rose 1.26% or 0.20 points to end the day at 16.02.

The weakest names in late trade included Usinas Siderurgicas de Minas Gerais SA USIMINAS Pref (BVMF:USIM5), which fell 5.58% or 0.37 points to 6.26. Companhia Siderurgica Nacional (BVMF:CSNA3) declined 5.32% or 0.56 points to close at 9.96, and CSN Mineracao SA (BVMF:CMIN3) slipped 4.24% or 0.26 points to 5.87.

On the B3 exchange, advancing issues outnumbered decliners by 488 to 441, while 46 stocks finished unchanged.


Volatility and commodity moves accompanied the equity downturn. The CBOE Brazil Etf Volatility index, which measures implied volatility for Bovespa options, fell 4.16% to 31.32.

In commodities trading, Gold Futures for April delivery were reported down 8.18% or 437.99 to $4,916.81 a troy ounce. Crude oil for March delivery climbed 0.58% or 0.38 to $65.80 a barrel, and the March US coffee C contract decreased 3.50% or 12.10 to trade at $333.40.

Currency moves reflected broader dollar strength. The USD/BRL exchange rate rose 1.36% to 5.26, while EUR/BRL increased 0.39% to 6.24. The US Dollar Index Futures were up 0.86% at 96.96.


This session showed a mix of targeted stock gains amid a broader market retreat, with commodity and currency shifts contributing to market dynamics into the close.

Risks

  • Currency volatility - USD/BRL rose 1.36% to 5.26, which can affect import-dependent sectors and dollar-denominated costs (impacts Financials, Basic Materials).
  • Commodity-price swings - Large moves in gold (down 8.18% to $4,916.81) and coffee (down to $333.40) create uncertainty for resource and agricultural-linked firms (impacts Basic Materials and Agribusiness).
  • Sector concentration risk - Heavy declines in Basic Materials, Financials and Electric Power indicate that weakness in a few sectors can drive broad index weakness (impacts overall market performance).

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