Brazilian equities closed the trading session higher on Tuesday, with the Bovespa advancing 1.44% to reach a new record high in Sao Paulo. Sector strength in Basic Materials, Real Estate and Public Utilities underpinned the market rise.
The session's top performer was Grupo Vamos SA (BVMF:VAMO3), which climbed 6.88%, adding 0.28 points to finish at 4.35. Pharmacy chain Raia Drogasil SA (BVMF:RADL3) also posted a strong gain, rising 5.16% or 1.30 points to close at 26.50. Miner Vale SA (BVMF:VALE3) advanced 4.53%, up 3.84 points to end the day at 88.66.
On the downside, education-related names led decliners. Cogna Educacao SA (BVMF:COGN3) fell 4.00%, a decline of 0.18 points to close at 4.32. YDUQS Participacoes SA (BVMF:YDUQ3) dropped 3.86%, down 0.56 points to 13.93, and software company Totvs SA (BVMF:TOTS3) slipped 2.93%, a fall of 1.32 points to 43.75.
Market breadth on the B3 exchange was slightly positive: 486 stocks rose versus 461 that fell, while 44 issues ended unchanged.
There were notable milestone moves among single stocks. Shares of Raia Drogasil rose to 52-week highs, gaining 5.16% to reach 26.50. Vale's shares moved to their highest level in three years, increasing 4.53% to 88.66.
Volatility as measured by the CBOE Brazil ETF Volatility index, which gauges implied volatility of Bovespa options, decreased 2.41% to 31.60.
Commodities markets showed mixed moves. Gold Futures for April delivery rose sharply, up 6.63% or 308.45 to $4,961.05 a troy ounce. Crude oil for March delivery increased 2.74% or 1.70 to $63.84 a barrel. By contrast, the March US coffee C contract fell 5.42% or 18.05 to trade at $315.20.
In currency markets, the USD/BRL exchange rate declined 0.28% to 5.25. EUR/BRL was effectively unchanged, moving 0.07% to 6.20. The US Dollar Index Futures slipped 0.19% to 97.31.
This session's price action highlighted concentrated sector leadership and specific stock-level strength and weakness. The rise to a new Bovespa high coincided with easing option-implied volatility and divergent moves across commodity markets, while FX indicators showed modest movement against the real.