Brazil stocks were higher after the close on Tuesday, as gains in the Basic Materials, Financials and Industrials sectors led shares higher.

At the close in Sao Paulo, the Bovespa gained 1.95% to hit a new all time high.

The best performers of the session on the Bovespa were Usinas Siderurgicas de Minas Gerais (SA:USIM5), which rose 5.49% or 0.50 points to trade at 9.60 at the close. Meanwhile, Gerdau SA Pref (SA:GGBR4) added 4.77% or 0.59 points to end at 12.97 and Metalurgica Gerdau SA (SA:GOAU4) was up 4.49% or 0.26 points to 6.05 in late trade.

The worst performers of the session were Centrais Eletricas Brasileiras SA (SA:ELET6), which fell 3.79% or 0.86 points to trade at 21.84 at the close. Cia Paranaense de Energia (SA:CPLE6) declined 3.41% or 0.85 points to end at 24.10 and Centrais Eletricas Brasileiras SA (SA:ELET3) was down 2.84% or 0.55 points to 18.79.

Rising stocks outnumbered declining ones on the BM&FBovespa Stock Exchange by 239 to 162 and 24 ended unchanged.

The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was up 7.86% to 29.36.

Gold Futures for February delivery was up 0.75% or 9.80 to $1319.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February fell 0.07% or 0.04 to hit $60.38 a barrel, while the March US coffee C contract rose 3.13% or 3.95 to trade at $130.07