Energy & Healthcare Pulls Down TSX, Investors Dump Tech Stocks

2 min read | March 18, 2021 05:25 PM EDT | By Team Kalkine Media

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The benchmark index of the Toronto Stock Exchange (TSX) fell from its highs earlier this week, doffing 146.63 points or 0.77 per cent to settle at 18,936.47 on Thursday. Weakness in energy and healthcare weighed heavily in the Canadian market. The index also reacted to a spike in bond yields and wide equities sell-off across the globe.

Energy index was the biggest loser, shedding 5.2 per cent. This was followed by healthcare and metals and mining indices, that gave up 3.44 per cent and 2.7 per cent, respectively. Financials and industrials were the top gainers, adding 0.6 per cent and 0.5 per cent, respectively.

The TSX Venture index also lost 17.54 points or 1.75 per cent to finish at 980.

Bombardier (TSX: BBD.B), Canadian Natural Resources Limited (TSX:CNQ) and Toronto Dominion Bank (TSX:TD) were the most active stocks by volume.

E-L Financial Corporation Limited (TSX:ELF), Canadian Pacific Railway Limited (TSX:CP) and Waste Connections Inc. (TSX:WCN) were the highest price gainers. Like its counterparts on Wall Street, tech stocks suffered due to investor’s dumped the high-flying stocks. Shopify Inc (TSX:SHOP), Constellation Software Inc (TSX:CSU) and Nuvei Corporation (TSX:NVEI) were the biggest losers.

Overall, 1,210 TSX issues declined on Thursday, while 545 TSXV issues dropped.

On Wall Street, the Dow Jones Industrials lost 153.07 points to close at 32,862.30, while the S&P lost 1.5 per cent to 3,915.46.

The NASDAQ witnessed its lowest point in about four weeks, losing 1.2 per cent to finish at 13,116.17.

 

Commodities & Forex

 

Gold futures gained 0.31 per cent to US$1,732.50.

Brent oil prices lost 6.94 per cent to US$ 63.28 a barrel, while WTI shed 7.12 per cent to close at US$60 a barrel.

The CAD-USD index lost 0.67 per cent to settle at 0.8008.

 


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