Reading B3 Top Movers on FundamentalRadar
Every trading session on B3 produces a list of stocks with the largest percentage gains and the steepest percentage losses. FundamentalRadar aggregates these top movers into a single screen so you can spot unusual activity without scrolling through hundreds of tickers. But a raw rank by percentage change is noisy — without context on turnover and which session the numbers belong to, it can mislead more than it informs.
TL;DR
- Percentage change alone is not signal. A stock that rises 12% on R$ 170k of turnover tells a different story than one rising 3% on R$ 40 million. Always read the turnover column.
- The panel shows completed-session data, dated, not a live clock. B3 publishes quotes with a 15-minute delay during the session, so intraday ranks are provisional and lag the match engine.
- The five-row rank is fixed at the top of each tab. There is no volume, Ibovespa-only, or block-trade filter to re-sort the list: what the panel labels completed-session data is what you get.
What the panel actually shows
FundamentalRadar's top movers panel renders two tabs — Maiores altas (Top gainers) and Maiores baixas (Top losers) — each showing five ranked rows pulled from the B3 cash equities (À vista and fracionário) session. Each row carries four fields:
| Field | Value | Source |
|---|---|---|
| Ticker, name, type | asset type label derived from CODBDI/ESPECI (Ação, FII, ETF, BDR, Unit) | B3 – Dados de Mercado |
| Price | last matched price, in BRL | B3 – Cotações |
| % Change | last price vs. previous close | B3 – Cotações |
| Turnover | financial volume (BRL) for the row | B3 – Dados de Mercado |
The panel header is labelled Pregão concluído (Completed session) followed by the session date — the date of the settled close, not a live trade timestamp B3 – Cotações. That date is what tells you the numbers below already cover the whole session, not a partial feed.
Volume and number of trades are reported in B3's market-data file with a D+1 update cycle B3 – Dados de Mercado, so the turnover figures reflect the full session.
How percentage change is computed
The percentage change shown compares the last price of the completed session against the previous close:
| Field | Value | Source |
|---|---|---|
| Last Price | Final matched price before session ends | B3 – Cotações |
| Reference Price | Previous session's closing price | B3 – Cotações |
| % Change | (Last Price − Reference Price) ÷ Reference Price × 100 | Investor.gov |
The adjusted chart on B3's quotes page computes prices within the most recent adjustment so there is no distortion from dividend payments B3 – Cotações. The same applies to the comparison used for the movers panel, so a dividend payment does not create a phantom gap in the reference price.
Because turnover is shown alongside the percentage, the rank carries its own qualifier: the panel's eligibility floor for this ranking is R$ 100k of turnover, so leaders can be papers that barely traded. Read the turnover column to tell which rows have it.
What the panel does not do
The panel is a read-only rank of session results. It has no controls to:
- filter by traded volume or turnover — all five rows per tab are shown as-is;
- filter to Ibovespa constituents only — the list is not scoped to the index;
- show a per-row last-trade timestamp — the header carries a single session date for the whole panel;
- include or exclude block trades — large-lot/OTC negotiated trades outside the cash-equities session are not part of the five-row rank.
These are gaps in the data surfaced, not hidden toggles. B3's cash-equities regular session runs 10:00–16:55 BRT, with a closing call auction from 16:55 to 17:00 B3 – Cotações. Quotes carry a 15-minute delay during the session, which is why the panel leans on the dated completed-session state rather than an intraday feed.
Common errors and fixes
| Error | Cause | Fix | Source |
|---|---|---|---|
| Treating a top gainer as a buy signal | Confusing a percentage move with quality | Check the company's fundamentals: P/E, ROE, debt, and earnings trend before acting | Investor.gov |
| Ignoring the turnover column | Reading only the percentage rank | Look at turnover; a two-digit move on low volume is noise | B3 – Dados de Mercado |
| Overreacting to ex-dividend gaps | Adjusted reference price can still exaggerate a move | Verify if the stock went ex-dividend that day; part of the move is mechanical | B3 – Cotações |
| Reading the panel live | Intraday ranks shift until the 17:00 close; the date shown is the session | Wait for completed-session data or confirm the rank has held for at least one hour | B3 – Cotações |
| Looking for a volume or Ibovespa filter that isn't there | No such filter exists on the screen | Treat the five rows as a starting list, then take them to the screener for volume and sector filtering | B3 – Dados de Mercado |
Practical workflow
A disciplined approach prevents misinterpretation:
- Check the date. Confirm the header shows
Completed sessionand a session date — that is the signal the numbers cover the full close, not a live feed. - Read turnover. A top mover on low turnover is noise until proven otherwise; a similar percentage on high turnover is market-validated.
- Check the reference context. If the stock went ex-dividend or had a corporate action, part of the move is mechanical, not demand.
- Compare with the Ibovespa. A gainer on a day the index fell is showing relative strength B3 – Ibovespa.
- Cross-reference with fundamentals. Use FundamentalRadar's fundamentalist score or sector analysis to verify whether the price move is backed by improving fundamentals or just a short-term reaction.
For investors focused on income, pairing top-movers screening with a dividend calendar helps distinguish ex-dividend mechanical moves from genuine price action.
Limitations to keep in mind
- 15-minute quote delay. B3's non-professional feed lags the match engine by 15 minutes B3 – Cotações. For execution, always use your brokerage's live order book.
- Fixed five-row rank, no filters. The panel does not expose a volume, Ibovespa-constituent, or block-trade filter; it shows the top five gainers and five losers from the completed cash-equities session.
- Turnover is indicative, not a screen. B3 reports volume and trade-count on a D+1 cycle B3 – Dados de Mercado. The turnover column reflects the settled session.
- Not investment advice. The panel is a data filter. A stock appearing as a top gainer today may be toppling; a top loser may be oversold. Fundamental analysis and personal risk tolerance determine whether a move is actionable.
As Investor.gov explains, stock prices reflect supply and demand at a point in time — they do not inherently indicate a company's quality or future trajectory.
FAQ
What is the difference between top gainers and top losers?
Top gainers are the stocks with the highest positive percentage change in a session; top losers have the largest negative percentage change. The ranking uses the completed session's last price compared to the previous close. A gain of 10% and a loss of 10% represent equal but opposite magnitude moves.
Why does a stock appear as a top gainer even though its price barely moved?
The percentage calculation depends on the reference price. If the reference was adjusted for a dividend payment (ex-dividend adjustment), a small absolute price change can appear as a large percentage gain. Always check if the stock went ex-dividend or had a corporate action that day.
How is the percentage change different from capital gain?
Percentage change is a single-session metric — it compares the closing price to the previous close within one day. Capital gain is the difference between your purchase price and your sale price, which may span weeks, months, or years. The top movers panel shows the former, not the latter.
Can I use the top movers panel to find stocks to buy?
The panel is a starting point for research, not a recommendation. A top gainer may be overextended; a top loser may have genuine problems. Always verify with fundamentals, check the sector context, and assess liquidity before considering a position.
What does the session date in the header mean?
The header shows Completed session followed by the session date — the date of the settled close. During live trading, B3 publishes data with a 15-minute delay, so intraday ranks are provisional. The date tells you the numbers below already cover the full session.
What fields does each row show?
Each row shows the ticker, name, asset-type label, the last price in BRL, the percentage change against the previous close, and the financial turnover in BRL for the row. There is no per-row last-trade timestamp.
Why can't I filter to Ibovespa stocks or by volume?
The panel has no such filters. It always shows the top five gainers and five losers from the completed cash-equities session. Take any row to the screener for volume, sector, and liquidity filtering.
How often does the data update?
During the trading session, B3 quotes update with a 15-minute delay. The completed-session data on FundamentalRadar reflects the final closing state for that session date. B3 reports volume and trade-count on a D+1 cycle B3 – Dados de Mercado.
Sources
| Source | What It Contributed |
|---|---|
| B3 – Cotações (Quotes) | Quote delay policy (15 min), adjusted-price methodology, cash-equities session hours |
| B3 – Dados de Mercado | Market-data scope, D+1/D+2 update cycles, volume and trade-count reporting |
| B3 – Market Data | Distribution platform structure, data service organization |
| B3 – Ibovespa | Index coverage as context for the market, not as a filter on the panel |
| Investor.gov – How Stock Markets Work | Supply-and-demand price formation, basic stock market mechanics |