The NZX 50 rose 13 points, or 0.1%, to 13,776 in Tuesday morning trade, marking the third consecutive session of gains and hitting a fresh record high, tracking a rally on Wall Street overnight buoyed by strong gains in semiconductor stocks.
Easing oil prices continued to lift sentiment as inflation concerns subsided, reducing expectations of an interest rate hike.
The rally was also supported by easing concerns about a Fed rate hike following the release of the jobs data last week, while traders anticipated the release of the Fed's meeting minutes due later this week.
Traders shrugged off expectations of an interest rate hike by the RBNZ at its meeting on Wednesday, with the market expecting the central bank to raise its policy rate by 25 bps to 2.5%.
Consumer staples, financials, and healthcare mainly drove the index, with notable gains from A2 Milk (2.7%), AFT Pharmaceuticals (2.4%), Scales Corporation (0.8%), ANZ Group (0.5%), Summerset Group (0.6%), and Fisher & Paykel (0.4%).