The Ibovespa fell 1.52% on Friday, July 24, closing at 174,000 points. The dollar rose slightly to 5.08 reais.
The main B3 index closed lower, detaching from overseas market behavior. Concerns over Brazil's fiscal scenario were cited as the main driver behind the decline.
Fernando Bresciani, investment analyst at Andbank, said the approaching electoral calendar tends to increase market volatility in the coming weeks. Banks including Banco do Brasil, Bradesco, Santander and Itaú followed the negative move.
The dollar traded near stability, reflecting relief in Brent crude prices after profit-taking.
