Ibovespa rises 2.63% to 192,115 points before vote

The Ibovespa rose 2.63% to close at 192,115 points on October 2, 2026, touching near its intraday high of 192,119 points. The performance represents its highest close since April 22, when it finished at 192,889 points. The index advanced more than 4,000 points during the afternoon, reversing morning declines that touched an intraday low of 186,144 points. Total financial trading volume reached BRL 31.2 billion on the index and BRL 43.0 billion across the wider B3 exchange.

Morning pressure followed a weak US payroll report and political exchanges between presidential candidates ahead of the first-round vote. Asset managers noted that foreign quantitative funds sold local equities early in the session due to negative correlation with US markets, before speculative buying drove a strong rebound in the afternoon. In the United States, the Nasdaq gained 1.19%, the S&P 500 added 0.73%, and the Dow Jones rose 0.49%.

Blue-chip shares led the afternoon gains in São Paulo. Units of BTG Pactual and preferred shares of Bradesco both rose 3.64%, while common shares of Banco do Brasil climbed 3.04%. Commodity producers also advanced, with Petrobras preferred shares gaining 2.81% and Vale common shares rising 2.56%.

The rally took place as betting markets showed a tighter margin between Senator Flávio Bolsonaro and President Luiz Inácio Lula da Silva. In a monthly letter, asset management firm Ibiuna reported that potential political alternation highlights corporate valuation asymmetries. The firm increased exposure to financials, healthcare, energy, and real estate, while reducing holdings in utilities and basic materials.