Canadian market rises 0.3% to close at 19,611.56

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The Canadian market closed higher on Wednesday as the healthcare, base metals, industrials, and information technology (IT) sectors made gains during the trading session.

The S&P/TSX Composite Index climbed 0.32 per cent during the day and closed at 19,611.56 points. Meanwhile, the S&P/TSX Venture Composite Index was up by 0.8 per cent and closed at 655.65 points.

One-year price chart of TSX Composite Index along with SMA 20-day, SMA 30-day, SMA-50-day (June 15). Analysis by © 2022 Kalkine Media®

Volume Active

The Canadian Natural Resources Limited (TSX:CNQ) recorded the highest volume on Wednesday as 13.12 million CNQ shares traded hands on the Toronto Stock Exchange.

Meanwhile, the second-most volume active stock was TC Energy Corporation, and its volume of traded shares was approximately 10.4 million.

Wall Street Update

After Tuesday's mixed performance, equities made a significant run during Wednesday's trading session. The Dow and the S&P 500 gained momentum with the upward surge after closing at the lowest levels on Tuesday in over a year.

The Nasdaq jumped by 2.5 per cent and closed at 11,099.15 points, and the Dow closed at 30,668.53 points after increasing by 303.7 points on Wednesday.

The market rally came even after the Federal Reserve announced the largest interest rate hike since 1994. The Federal Reserve said it has decided to boost the target rate of federal funds by 0.75 per cent.

Commodity Updates

Gold Futures for August delivery were up 1.31 per cent to US$ 1,837.3 per troy ounce. Meanwhile, crude oil for July delivery fell 2.42 per cent to US$ 116.05 a barrel, while Brent oil for August delivery fell 1.77 per cent to US$ 119.02 per barrel.

Currency News

CAD/USD was unchanged at 0.78, down 0.36 per cent, while CAD/EUR was unchanged at 0.74, down 0.03 per cent.

At 104.55, the US Dollar Index Futures were down 0.75 per cent.



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