Ibovespa drops 1.42% and adds the sixth negative session in a row
Fiscal doubts, the debate over Selic and uncertainty in the economic team weigh on the market, while banks suffer after the second round.
BY THE X-TRADER NEWS NEWSROOM · REPORTING FROM INFOMONEY · 3 MIN
The Ibovespa closed down 1.42% on Tuesday (3/11), at 165,528.92 points, and returned below the level of 165 thousand points, according to InfoMoney. It was the sixth consecutive session of lows and the lowest closing since January 19th. The decline is well below the historical record of 209,713 points, registered at the beginning of October.
At the worst moment of the day, the intraday low reached 164,446.53 points, compared to a high of 168,005.46. Petrobras (PETR3 and PETR4), Vale (VALE3) and banks put pressure on the trading session. The shares of Embraer (EMBJ3), Santander (SANB11) and WEG (WEGE3) mitigated the falls. In the December futures contract, the WINZ26 (mini-index) ended the session with a drop of 1.44%, quoted at 168,035 points.
According to InfoMoney, the caution is based on three points: uncertainties in public accounts, discussion about the speed with which the Selic could fall and a lack of definition regarding the team in the economic area. Given this, future interest rates and the dollar advanced. Outside, Wall Street was left without a defined direction, with attention focused on American midterms, and oil lost value.
Between the benches, the fall was strong. According to Seu Dinheiro, Bradesco (BBDC4) fell 37% in a few days after the second round, Itaú (ITUB4) lost 26%, and Ibovespa, measured in dollars, fell 24%.
Amid this situation, Morgan Stanley's overweight recommendation for Bradesco remained in place, although the projection for ADRs fell: previously at US$ 5.50, now at US$ 4.75. According to Seu Dinheiro, the new reference suggests a potential of 92% over the last closing.
In InfoMoney's technical analysis, the index appears below the averages calculated over 9, 21 and 200 periods. The vehicle also highlights, in the headline, that Lara Resende's interest received criticism during the period.
What changes for the investor
For those who invest in the stock market and operate interest and exchange rates, the picture shows a market that already incorporates fiscal uncertainties and doubts about the Selic rate, with consequences for banks, oil companies, mining companies, future interest rates and the dollar. In the editorial reading of The X-Trader News, the predictability of public accounts and a clear conduct of economic policy are the way to reduce this risk premium. Until then, it is worth monitoring the definition of the economic team, the Selic's next steps and the behavior of the dollar, without depending on a single asset.
Automatically translated from Portuguese.
