Canada's main stock index rose to a record high on Tuesday, as heavyweight energy and mining sectors bounced back from steep losses, although investors remained on edge due to rising COVID-19 cases worldwide.

At 9:38 a.m. ET (13:38 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 85.57 points, or 0.42%, at a record high of 20,522.99.

The energy sector jumped 1.7% after tumbling more than 2% on Monday, with oil prices rising on signs of strong demand in Europe and the United States, despite higher coronavirus cases in Asian importer-nations.

The materials sector, which includes precious and base metals miners and fertilizer companies, rose 0.5% after marking its worst day in three weeks, as concerns over Chilean supply supported copper prices, and precious metal prices stabilized.

Still, concerns over rising virus cases saw investors piling on technology stocks, which rose 1.1%. The sector has proven to be resilient to virus-related disruptions over the past year.

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On the TSX, 139 issues were higher, while 82 issues declined for a 1.70-to-1 ratio favouring gainers, with 16.10 million shares traded.

The largest percentage gainer on the TSX was Nuvei Corp , which jumped 14.3% after the payment services provider delivered better-than-expected quarterly numbers.

Transalta Renewables fell 5.8%, the most on the TSX, while the second-biggest decliner was Centerra Gold , down 2%.

The most heavily traded shares by volume were Enbridge Inc , Manulife Finl, and Nevada Copper.

The TSX posted 8 new 52-week highs and 4 new lows.

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all Canadian issues there were 57 new 52-week highs and 18 new lows, with total volume of 26.96 million shares.