Brazil’s benchmark Bovespa index closed nearly flat on Thursday, declining 0.01% to 185,195.42 points, after briefly approaching 189,000 during the session.
The index peaked at 188,891.50 points, up 1.99% from the prior close, before reversing course as investors took profits. The session’s low was recorded at 184,718.36 points, down 0.26% from the opening level.
Pressure on the index was led by declines in heavyweight components Vale and Petrobras. Shares of Vale fell 2.96%, while Petrobras’ preferred shares dropped 1.33%.
Trading volume on the São Paulo exchange totaled R$32.3 billion before final adjustments.
The pullback followed a recent rally that pushed the Ibovespa close to record territory, prompting profit-taking activity as the index approached psychological resistance around 189,000 points.
