In May 2009, equity markets (Bovespa segment) traded BRL 108.03 billion, totaling 6.91 million trades. In April, total volume reached BRL 97.19 billion, in 5.92 million trades. The average daily trading in the Bovespa segment set a historic record with 345,276 registered trades. The previous record, of 337,448 trades, was set in October 2008. All stock market indexes the month of May up. The stock market benchmark index, the Ibovespa, ended the month 12.4% higher at 53,197 points. In May, foreign investment in the equity markets set a historic monthly record with a positive balance of BRL 6,083,027,439.00. The previous record of BRL 6,007,102,744.00 was registered in April 2008. Another historic monthly record was set with the average daily trading via Home Broker: 208,385. The previous record was established in October 2008, when the daily average hit 183,796 trades.
Derivatives markets in the BM&F segment (including financial and commodities derivatives) totaled 29,155,925 contracts and BRL 2.03 trillion in volume in May. That compares to 31,020,336 contracts and a volume of BRL 2.44 trillion in March. The daily average of contracts in the derivatives markets in May was 1,457,796, compared to 1,551,017 in the previous month.
Volumes and Trades – Equities, Equities Derivatives and Fixed Income
The Bovespa markets reached a total volume of BRL 108.03 billion in 6.91 million trades in May, with daily averages of BRL 5.40 billion and 345,276 trades, respectively. The average daily trading in the Bovespa segment set a historic record with 345,276 registered trades. The previous record, of 337,448 trades, was set in October 2008. In May, total volume reached BRL 97.19 billion in 5.92 million trades. May's daily averages reached BRL 4.86 billion and 296,121 trades.
The most traded stocks in May were: Petrobras PN, with BRL 14.40 billion; Vale R Doce PNA, with BRL 13.11 billion; BMF Bovespa ON, with BRL 4.07 billion; Petrobras ON , with BRL 3.61 billion; and Vale R Doce ON, with BRL 3.53 billion.
Indexes
The Ibovespa ended May 12.4% higher at 53,197 points. Best performing stocks were: GERDAU PN (+31.27%); ARACRUZ PNB (+29.81%); BMF BOVESPA ON (+29.41%); GERDAU MET PN (+27.19%); and USIMINAS ON (+24.52%). Lowest performing stocks were: GAFISA ON (-5.21%); ELETROBRAS PNB (-5.16%); CPFL ENERGIA ON (-3.87%); TELESP PN (-2.55%); and TRANS PAULISTA PN (-1.79%).
In addition to the Ibovespa, the remaining stock-exchange indexes also ended May up: IBrX-50 (+11.4% at 7,788 points); IBrX-100 (+11% at 17,349 points); ISE (+8.6 % at 1,489 points); ITEL (+6.7% at 1,246 points); IEE (+4.5% at 19,710 points); INDX (+15.6% at 7,420 points); IVBX-2 (+8% at 4,325 points); IGC (+9.8% at 5,032 points); ITAG (+10.7% at 6,496 points); Small Cap (+12.2% at 716 points); MidLarge Cap (+10.9% at 785 points); Iconsumo (+10.3 % at 961 points); and Imobiliário (+8.2% at 588 points);
Market Value
Market capitalization of the 388 companies listed on the BM&FBOVESPA in May was BRL 1.81 trillion, compared to BRL 1.66 trillion concerning the 387 companies listed in April.
Special Corporate Governance Levels
At the end of May, the 158 companies that are part of the BM&FBOVESPA's special corporate governance levels represented 58.74% of the market capitalization, 73.23% of trading volume, and 79.88% of the trades in the spot market.
Market Participation
The spot market accounted for 94.2% of total trading volume in May, followed by the options market, with 4.6%, and by the forward market, with 1.2%. The after market traded BRL 1.13 billion with 112,567 trades, compared to BRL 820.41 million and 85,205 trades in the previous month.
Investor Participation
In May, foreign investors were responsible for 37.16% of the total volume, compared to 36.23% in April. Individual investors came in second place, with 31.80%, compared to 30.85%; next in sequence came institutional investors with 23.77%, compared to 24.69%, financial institutions, with 5.22%, compared to 6.22%; companies, with 2.01%, compared to 1.97%; and other types of investors with 0.03%, compared to 0.04%.
Foreign Investment
The net flow of foreign investment into the Brazilian stock market in 2009 as of May 29 is a positive BRL 13,157,249,043.50, which is the combined result of the amount of BRL 1,957,009,261.50 in acquisitions carried out by foreign investors in the stock offerings and the positive balance of BRL 11,200,239,783.00 in direct trading at BM&FBOVESPA.
In May, the financial volume traded by foreign investors in the stock market was a positive BRL 6,083,027,439.00, which is the net balance between stock sales of BRL 36,994,265,820.00 and stock purchases of BRL 43,007,239,259.00. In May, foreign investment in the equity markets set a historic monthly record. The previous record of BRL 6,007,102,744.00 was registered in April 2008.
The foreign investor participation in stock offerings, including IPOs, represented 88,4% of the total BRL2,212,895,370.00 in transactions related to the publication of the closing announcement dates ending on June 02, 2009.
Individual Investors
BM&FBOVESPA ended May with 516,874 individual investor accounts in custody. The stock exchange had 516,057 such accounts in April.
Investment Clubs
BM&FBOVESPA ended May with 2,798 investment clubs and 20 new registrations. Total liquid asset reached BRL 9.3 billion and the number of participants reached 146.07, according to the latest available April data.
Home Broker
Average daily trading via Home Broker set a historic monthly record of 208,385 trades. The previous record was established in October 2008, when the daily average hit 183,796 trades. Volume in Home Broker trades totaled BRL 37.38 billion in May, compared to BRL 32.02 billion in April. Home Broker's average daily volume reached BRL 1.87 billion, compared to BRL 1.60 billion, and the average amount per transaction BRL 10.48 million, compared to BRL 10.20 million; total number of trades reached 4,167,693 compared to 3,401,907. Home Broker's participation in the stock market's total volume in May was 17.30%, compared to 16.50% in April, while total number of trades reached 30.20%, compared to 28.70%. The number of investors placing orders stood at 195,212, compared to 175,211 in April. In May, the number of brokerage firms offering Home Broker increased to 64, compared to 63 in April.
Fixed Income
In May, the trading volume for the secondary market, counting both the Bovespa Fix and the Soma Fix, totaled BRL 31.03 million, compared to BRL 10.98 million in April. Of this total, debentures accounted for BRL 16.76 million, Real Estate Receivables Certificates (CRI) accounted for BRL 12.41 million, and Credit Receivables Investment funds (FIDC) accounted for BRL 1.90 million.
ETFs
The financial volume registered in May by the four BM&FBOVESPA exchange-traded funds reached BRL 441 million, in comparison to BRL 405.44 million in April. 3,867 trades were registered with BM&FBOVESPA iShares BOVA11, SMAL11, MILA11, and PIBB11. In the previous month the number of trades was 2,945. iShares BM&FBOVESPA BOVA11 reached the highest financial volume in May, with BRL 387.3 million, in comparison to BRL 360.63 in April.
Volumes and trades by Direct Market Access (DMA)
In May 2009, BOVESPA* market segment transactions carried out through order routing via Direct Market Access (DMA) registered a financial volume of BRL 82.38 billion and 7.39 million trades. In April, the financial volume was BRL 67.14 billion and 6.33 million trades. The volumes registered by access modality in May 2009 in comparison to the previous month are as follows:
- DMA – Retail Modality – BRL 37.4 billion and 4.17 million trades, in comparison to BRL 32 billion and 3.40 million trades;
- DMA – Managers Modality – BRL 13.83 billion and 827,100 trades, in comparison to BRL 10.6 billion and 700,270 trades;
- DMA – Institutional Modality – BRL 31.15 billion and 2.39 million trades, in comparison to BRL 24.5 billion and 1.91 million trades.
* Direct access to Bovespa market segment is carried out through DMA model 1. Also known as traditional model, in this type of DMA the client accesses the Mega Bolsa through technological intermediation of the brokerage house.
BM&F Segment (Derivatives and Futures)
Volumes and Trades – Financial Derivatives
Interest rate futures (DI) was one of May's highlights, totaling 10,288,695 contracts, compared to 14,241,900 in April. The US dollar futures ended the month totaling 6,037,100 contracts compared to 5,302,115 contracts in the previous month. The Ibovespa futures traded 1,316,131 contracts in May, compared to 1,157,658 in the last month. Open-interest contracts ended the last trading day of May with 17,531,319 positions, compared to 15,709,178 in April.
Volumes and Trades – Agribusiness Derivatives
In May, the agribusiness derivatives market on BM&FBOVESPA (including futures and options) totaled 158,031 contracts traded, compared to 141,379 in April. Live cattle registered 72,985 contracts traded, compared to 61,230 in the previous month. Arabica coffee totaled 55,793 contracts, compared to 42,986 in April.
Soybeans totaled 15,485 contracts, compared to 25,188 (in April) and corn, (with financial settlement) 13,468 contracts, compared to 10,545 (in April). Agribusiness markets totaled 70,382 open interest contracts at the end of the last trading day of May. In April, these contracts totaled 80,317.
Volumes and Trades - Minicontracts
The derivatives market for mini contracts traded 1,082,184 contracts in the month of May, compared to 1,048,990 in April. Of this total, the futures market for Ibovespa mini contracts traded 1,044,007, compared to 1,017,536 contracts in the previous month. Mini U.S. dollar futures traded 32,016 contracts, compared to 27,345 in April. Mini futures contracts ended May with 31,765 open interest contracts, compared to 17,440 in the previous month.
Volumes and Trades – Spot Gold
The spot gold market (250 grams) traded, in May, 1,033 contracts, compared to 1,182 contracts in April. Spot gold market volume totaled BRL 15.88 million, compared to BRL 18.81 million in the previous month.
Investor Participation
Financial institutions led derivatives trading (BM&F segment), responsible for 46.61% of contracts traded, compared to 46.13% in the previous month. Institutional investors were responsible for 22.20%, compared to 24.25%; foreign investors for 19.66%, compared to 18.69%; individuals for 8.96%, compared to 8.53%; and companies for 2.56%, versus 2.40%.
Individual Investors
In May, there were 64,716 individual investors with at least one account registered at the Derivatives Clearinghouse, compared to 61,219 in the previous month.
Volumes and trades by Direct Market Access (DMA)
BM&F Segment
In May 2009, BM&F market segment registered a total of 4,516,929 contracts traded via DMA*, with 496,450 trades carried out through the GTS trading platform. In April, the total was 4,302,392 contracts traded in 426.107 trades. The volumes registered by access modality in May 2009 in comparison to the previous month are as follows:
- Traditional DMA – 3,793,159 contracts traded, in 425,954 trades, in comparison to 3,979,152 contracts traded and 406,559 trades;
- Via DMA Provider – 77,965 contracts traded, in 2,798 trades, in comparison to 50,700 contacts traded and 1,426 trades;
- DMA via order routing with CME Globex (CME Group's electronic trading platform) – 645,825 contracts traded, in 67,698 trades, in comparison to 272,540 contracts and 18,122 trades.
* Direct access to BM&F market segment is carried out through DMA model 1 and 2. In model 1 or traditional, the client accesses the GTS through technological intermediation of the brokerage house. In model 2 or via DMA provider, the client does not use the previously mentioned structure and connects to the system through an authorized access provides. DMA via order routing with CME Globex is also a form of DMA model 2.