Brazilian equities finished Tuesday strongly, with the Bovespa index adding 2.22% to end the session at a new record high. Sector strength was concentrated in Real Estate, Financials and Basic Materials, which collectively supported the advance.
Among individual names, Raizen SA Preferred (BVMF:RAIZ4) led gains, jumping 13.25% - a rise of 0.11 points - to close at 0.94. YDUQS Participacoes SA (BVMF:YDUQ3) also posted a robust performance, climbing 8.19% or 1.13 points to finish at 14.93. Cyrela Brazil Realty SA (BVMF:CYRE3) was up 6.81% - an increase of 1.91 points - to end the day at 29.97.
On the downside, Eneva SA (BVMF:ENEV3) was the weakest of the session, sliding 3.22% or 0.71 points to close at 21.35. Auren Energia SA (BVMF:AURE3) declined 1.61% - 0.19 points - to 11.60, while Totvs SA (BVMF:TOTS3) eased 1.16% or 0.55 points to 46.67.
Market breadth favored advancing issues, with 528 rising stocks versus 423 decliners on the B3 exchange. Forty names finished unchanged.
Volatility as measured by the CBOE Brazil ETF Volatility index moved lower, slipping 1.62% to 30.91, indicating a reduction in implied option volatility on the Bovespa at the close.
Commodities and currency moves accompanied the equity rally. Gold futures for April delivery rose 1.11% - an increase of 56.89 - to $5,179.19 a troy ounce. In energy, crude oil for March delivery climbed 2.84% or $1.72 to $62.35 per barrel. Agricultural markets showed strength as well, with the March US coffee C contract gaining 3.72% or 13.25 to settle at $369.50.
Currency crosses involving the Brazilian real moved in favor of the local unit against major peers. The USD/BRL rate fell 1.61% to 5.20, while EUR/BRL was down 0.64% to 6.23. The US Dollar Index Futures eased 0.93% to 95.96.
The session combined a record-equity close with falling implied volatility and positive moves across several commodity contracts, alongside appreciation of the real versus the dollar and euro.