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Highlights:
- Individual investors reach a record 630,895.
- Securities lending reaches a record BRL 44.21bn.
- Trading in ETFs grows 35.26% since round lot reduced to 10 from 100.
Bovespa Segment
In September 2010, equity markets (Bovespa segment) traded BRL 140.98 billion in 9,398,749 trades, with daily averages of BRL 6.71 billion and 447,559, in comparison to August when total volume reached BRL 123.90 billion in 8,970,847 trades, with daily averages of BRL 5.63 billion and 407,766 respectively.
Equities
The most traded stocks in September were Petrobras PN, at BRL 21.11 billion; Vale PNA at BRL 15.50 billion; OGX Petróleo ON at BRL 7.22 billion; Petrobras ON at BRL 6.31 billion; and Itauunibanco PN at BRL 4.24 billion.
Indexes
The Ibovespa ended September at 69,429 points, up 6.57% from the previous month.
The best performing stocks were: Gol PN (+14.32%); Banco do Brasil ON (+13.70%); Sabesp ON (+13.44%); CCR ON (+12.80%); e TAM PN (+11.82%). As maiores baixas foram: Eletropaulo PNB (-8.48%); Pão de Açucar PNA (-5.74%); CPFL ON (-4.56%); Copel PNB (-3.12%); and Gerdau Metalúrgica PN (-3.02%).
All of the other Bovespa segment stock-exchange indexes ended September as follows: IBrX-50 (+7.17% at 9,520 points); IBrX-100 (+6.93% at 21,852 points); ISE (+5.85% at 2,022 points); Itel (+4.07% at 1,363 points); IEE (-0.93% at 25,.497 points); INDX (+5.97% at 10,621 points); IVBX-2 (+5.08 % at 5,953 points); IGC (+7.32% at 7,456 points); Itag (+6.99% at 9,706 points); Small Cap (+5.13% at 1,341 points); MidLarge Cap (+6.97% at 962 points); Iconsumo (+5.76% at 1,543 points); Imobiliário (+8.19% at 1,032 points); and Ifinanceiro (+8.52% at 3,800 points).
Market Value
Market capitalization of the 377 companies listed on the BM&FBOVESPA at the end of September was BRL 2.48 trillion, compared to BRL 2.24 trillion for 375 companies in August.
Special Corporate Governance Levels
At the end of September, the 162 companies that are part of the BM&FBOVESPA’s special corporate governance levels represented 66.02% of the market capitalization, 71.31% of the financial volume and 78.61% of the trades in the spot market. At the end of August, there were 162 companies representing 68.71% of the market capitalization, 77.48% of financial volume and 80.06% of spot market trades.
Market Participations
The spot market accounted for 93% of total financial volume in September, followed by the options market with 4.2% and the forward market with 2.8%. The after market traded BRL 1.10 billion, with 75,658 trades, compared to BRL 1.22 billion and 91,512 trades in the previous month.
Investor Participation
In September, institutional investors were responsible for 35.45% of the total volume, compared to 35.03% the previous month. Foreign investors came next at 30.85% compared to 28.18%; individual investors 24.25% compared to 27.10%; financial institutions 7.08% from 7.66%; companies 2.31% from 1.97%; and other types of investors 0.06% from 0.07%.
Foreign Investment
The net flow of foreign investment into the Brazilian stock market in 2010 as to September 30 was BRL 16,416,243,778.05, which is the combined result of BRL 13,314,923,135.10 in acquisitions carried out by foreign investors in stock offerings (including BRL 12.8 billion registered in Brazil) and the positive balance of BRL 3,101,320,643.00 in direct trading at BM&FBOVESPA.
In September, the financial volume traded by foreign investors in the stock market was a positive BRL 3,135,927,589.0, which is the net balance between stock sales of BRL 41,792,943,440.0 and stock purchases of BRL 44,928,871,029.00.
The foreign investor participation stock offerings including IPOs represented 53.9 % of the total BRL 24,695,609,643.00 in transactions related to publication of the closing announcement dates ending on October 4, 2010, pursuant to information available on the Exchange’s website, under the media section.
Investment Clubs
BM&FBOVESPA ended September with 3,079 investment clubs and 38 new registrations. Total liquid asset reached BRL 10.71 billion and the number of participants reached 136,428 according to the latest available August data.
Individual Investors
BM&FBOVESPA ended September with a record 630,895 individual investor stock exchange accounts in custody, surpassing the 598,352 of July 2010 and compared to 597,560 in August.
Home Broker
Average daily trading via Home Broker hit 199,523 trades in September, compared to 243,492 in August. The total number of trades reached 4,189,981, compared to 5,356,824 in the previous month. The volume in Home Broker trades totaled BRL 36.13 billion, compared to BRL 45.08 billion in August. Home Broker’s participation in the stock market’s total volume in September was 22.29%, compared to 29.90% in August. In September, the number of brokerage firms offering Home Broker was 64 from 66 in August.
Securities Lending
In September, the total number of securities lending transactions reached 81,301, with a record financial volume of BRL 44.21 billion, compared to 92,405 transactions and BRL 43.50 billion in August.
Fixed Income
In September, the financial volume for the secondary market, counting both the Bovespa Fix and the Soma Fix, totaled BRL 38.84 million, compared to BRL 20.02 million in August. Of this total, debentures accounted for BRL 24.48 million, Credit Receivables Investment funds (FIDC) accounted for BRL 4.61 million, and Real Estate Receivables Certificates (CRI) accounted for BRL 9.75 million.
ETFs
Since the round lot was reduced to 10 from 100 units at the start of August, the number of trades registered with the BM&FBOVESPA seven Exchange-Traded Funds (ETFs) BRAX11, CSMO11, MOBI11, BOVA11, SMAL11, MILA11 and PIBB11 rose 35.26% to 23,391. Financial volume was BRL 646 million, in contrast to BRL 598.09 million in August. In September the ETF with the highest financial volume was BOVA11 with BRL 551.45 million, in comparison to its total financial volume of BRL 508.23 million in August.
BM&F Segment
Derivatives markets in the BM&F segment (including financial and commodities derivatives) totaled 41,566,908 contracts and BRL 2.72 trillion in volume in September, compared to 53,717,663 contracts and BRL 3.44 trillion in August. The daily average of contracts traded in the derivatives markets in September was 1,979,377 contracts, in contrast to 2,441,712 in August. Open interest contracts ended the last trading day of September with 42,433,285 positions, compared to 39,756,260 in August.
Financial Derivatives
In September, interest rate futures (ID) traded 18,639,700 contracts, in contrast to 26,000,110 in August. The US dollar futures ended the month of September with 6,135,310 contracts, compared to 5,730,635 in the previous month. The Ibovespa futures traded 1,483,160 contracts, compared to 1,545,970 in August. The Euro futures contract (EUR) registered 31,745 contracts, in contrast to 40,530 contracts in August.
Agribusiness Derivatives
In September, the BM&FBOVESPA agribusiness derivatives market (including futures and options) totaled 300,356 contracts traded, compared to 296,668 in August. Agribusiness markets totaled 174,265 open interest contracts, in contrast to 182,995 in the previous month.
Live cattle futures and options totaled 155,460 contracts traded in September, compared to 140,230 in August. Arabica coffee ended September with 53,743 contracts, compared to 86,309 in August. Soybeans totaled 16,929 contracts, compared to 16,357 in August, and cash-settled corn futures and options totaled 70,672 contracts traded, compared to 50,890 in August. Hydrous ethanol futures totaled 3,552 contracts, compared to 2,882 traded in August.
Mini Contracts
The derivatives market for mini contracts traded 1,726,290 contracts in September, compared to 1,667,573 in August. Of this total, the futures market for Ibovespa mini contracts traded 1,561,825, compared to 1,529,792 contracts in the previous month. Mini U.S. dollar futures traded 163,382 contracts, compared to 135,544 in August. Mini futures contracts ended September with 28,104 open interest contracts, compared to 16,516 in the previous month
Spot Gold
The spot gold market (250 grams) traded, in September, 526 contracts, compared to 657 contracts in August. Spot gold market volume totaled BRL 9.58 million, compared to BRL 11.89 million in the previous month.
Investor Participation
In September, financial institutions led derivatives trading (BM&F segment), accounting for 43.85% of contracts traded, compared to 42.05% in the previous month. Institutional investors were responsible for 28.20%, compared to 29.39% in August; foreign investors for 21.77%, compared to 22.93%; individuals for 4.39%, compared to 4.16%; and companies for 1.79%, versus 1.46%.<
Individual Investors
In September, there were 125,710 individual investors with at least one account registered at the Derivatives Clearinghouse, compared to 121,235 during the previous month.
