TThe Ibovespa index on the Sao Paulo Stock Exchange gained 1.14 percent, closing at a record 88,419 points after breaching the 89,000-point limit for the first time in a day
Mr Bolsonaro has outraged many with his derogatory remarks against women, gays and blacks and his support for the torture of the brutal military regime of Brazil (1964-1985).
However, he withdrew on Thursday from a controversy: a plan to bring together the Ministries of Agriculture and the Environment.
The plan had warned activists that he had sold Brazil's natural resources to his financial backers in the agro-business lobby.
Mr Bolsonaro said industry insiders had urged him to reconsider this, as he feared trade sanctions for their products from countries worried about the health of the Amazon rainforest.
"In order to avoid international pressure, I said I would be willing to reverse the decision, but the one who will decide the environmental issue will also be Mr. Jair Bolsonaro, and (the future minister) will not be subject to any pressure from NGOs "he said, referring to the third person.