Australian shares rally to another record high

Around 3pm the index also rose above 8,400 for the first time ever, climbing as high as 8,446.4 before dipping a bit in the final hour of trading.

The broader All Ordinaries on Tuesday gained 74.8 points, or 0.87 per cent, to 8,629.2.

Every sector gained ground, with tech the biggest gainer with a 3.1 per cent rise.

In currency, the Australian dollar was buying 65.04 US cents, from 64.64  US cents at Monday's ASX close.