SYDNEY, AAP – Commonwealth Bank shares notched a record price on a good trading day for most major players.

Shares in the nation’s biggest bank peaked at $98.84 as investors tip banks to thrive on an economy rebounding from the coronavirus recession.

The shares closed lower by 0.03 per cent to $97.76.

Energy and materials shares were best and the benchmark S&P/ASX200 index closed higher by 42.4 points, or 0.6 per cent, to 7066 on Tuesday.

The All Ordinaries closed up 43.3 points, or 0.6 per cent, to 7299.1 points.

The Australian dollar was buying 78.02 US cents at 1620 AEST, higher from 77.60 US cents at Monday’s close.