Canadian market records modest gains of 0.38%

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Canadian market records modest gains of 0.38%

 Canadian market records modest gains of 0.38%
Image source: © Rawpixelimages | Megapixl.com

The Canadian stock market made slight gains on June 21 as the energy, base metals, real estate, information technology, and financial sectors surged during the trading session. At market close, the S&P/TSX Composite Index had gained 0.38 per cent at 19,257.29 points.

The energy sector recorded the highest gain of 2.3 per cent, followed by the real estate sector's growth of 0.7 per cent. Meanwhile, the IT and base metals sectors recorded gains of 0.3 per cent and 0.4 per cent.

Canada stock market
One-year price chart of TSX Composite Index along with SMA 20-day, SMA 30-day, SMA-50-day (June 21). Analysis by © 2022 Kalkine Media®

Volume Active

Suncor Energy Inc. (TSX:SU) recorded the most volume and price surge on Tuesday. Approximately 12.6 million SU shares exchanged hands on the Toronto Stock Exchange and closed 2.9 per cent higher at C$ 48.12 per share.

Followed by Suncor Energy, the Canadian Natural Resources Limited (TSX:CNQ) was the second most volume active stock. Around 10.7 million CNQ shares were traded, and its price increased by about two per cent during the session.

Wall Street Update

The US equities markets recorded significant gains on Tuesday as the major indexes recorded more than two per cent gains. The NASDAQ Composite Index surged by 2.5 per cent and closed at 11,069.3 points.

The S&P 500 closed at 3764.79 points after recording a surge of 2.45 per cent. Meanwhile, the Dow Industrials gained 2.15 per cent to close at 30530.25 points.

Commodity Updates

The Gold Futures for August delivery declined by about 0.3 per cent to US$ 1,835.6 a troy ounce. In the oil sector, the July crude oil for August delivery surged by 1.71 per cent to US$ 109.84 per barrel, and the August Brent oil recorded gains of 0.7 per cent to US$ 114.97 per barrel.

Currency News

The CAD/USD and CAD/EUR exchange rates remained unchanged at 0.77 and 0.73, respectively. Meanwhile, the Futures for the US Dollar Index decreased by 0.03 per cent to 104.23.

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