Industrials rally as TSX Extends Gain on Monday

2 min read | September 14, 2020 11:11 PM EDT | By Team Kalkine Media

Buoyed by the news of COVID vaccines and multimillion-dollar deals, the S&P/TSX Composite Index Monday added 137.68 points or 0.85% and closed at 16,360.14. Industrials stocks were the biggest gainers.

The key Canadian index traded above its immediate support level of 5-day simple moving averages (SMAs) and above its crucial short-term support levels of 50-day, 100-day, and 200-day SMAs. However, it traded below its 10-day, 20-day and 30-day SMAs. The 14-day relative strength index floated in the neutral zone and tilted towards an oversold zone.

Five-day daily price chart (as on 14 September 2020, after markets close / Source: Thomson Reuters)

Sector Summary

Performers: Industrials (up 0.98%), Basic Materials (up 0.63%) and Consumer Cyclicals (up 0.41%).

Laggards: Utilities (down 0.59%), Telecommunications Services (0.31%) and Utilities (down 0.06%).

Source: EODHD/Others (Thomson Reuters)

Market Update*

52-Week High: Pretium Resources Inc, AcuityAds Holdings Inc, AutoCanada Inc, Agnico Eagle Mines Ltd, Almaden Minerals Ltd posted new 52-week high price on September 14.

52-Week Low: Charlotte's Web Holdings Inc, Frontera Energy Corp, Aeterna Zentaris Inc, BELLUS Health Inc, Helix Biopharma Corp, Morguard Corp and Pason Systems Inc plummeted to their new 52-week low on September 14.

Top Performers: MAD Silver Corp (up 10%), OceanaGold Corp (up 9.5%), and Torex Gold Resource Inc (up 9.4%)

Top Losers: MEG Energy Corp (down 3.7%), Crescent Point Energy Corp (down 3.8%), and Enghouse Systems Ltd (down 3.7%).

On Wall Street: Indices in the United States traded in green on Monday, with the price-weighted Dow Jones Industrials up 327.69 points or 1.18% at 27,993.33, tech-heavy Nasdaq Composite Index climbing 203.11 points or 1.87% higher at 11,056.65 and the S&P 500 Index trading 42.57 points or 1.27% higher at 3,383.54, respectively.

The Canadian dollar traded 0.06% lower against the US Dollar at 1.3174 while the Dollar index declined 0.44% to 92.912 against a basket of currencies.

Gold futures added 0.70% to US$ 1,963.70/oz.

International benchmark Brent Oil traded 0.48% lower at US$ 39.61/bbl and WTI Crude Oil traded 0.51% lower at US$ 37.26/bbl.

* Details as on 14 September 2020, after markets close / Source: Thomson Reuters


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