The Ibovespa pared stronger morning gains to close up 0.3% at 180,410 points on Tuesday, supported mainly by energy and utility stocks.
Petrobras advanced 2%, extending its rally alongside higher international crude prices. Ongoing strikes by Iran against GCC countries continued to threaten global oil supplies, which in turn supported valuations of Brazilian oil producers and refiners.
The utilities sector also traded higher after Sabesp reported solid Q4 2025 results and approved R$583.6 million in interest on equity for the fiscal year, boosting sentiment toward the segment.
By contrast, major banks ended mostly lower ahead of tomorrow’s monetary policy decision by the Brazilian central bank. The BCB is expected to begin an easing cycle, but markets remain divided over whether it will opt for a 25 bp or a 50 bp rate cut.