TSX Index Trades Lower For Second Consecutive Day

2 min read | August 31, 2020 11:00 PM EDT | By Team Kalkine Media

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TSX Index Trades Lower For Second Consecutive Day

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The benchmark equity index of the Canadian stock market extended losses for the second consecutive day and traded 191.35 points or 1.14% to 16,514.44. Every constituent sector of the TSX Composite Index settled in red zone on Monday, reflecting that bears were heavy on the bulls. Energy and communication indices were among the top losers, which ended 3.03% and 1.85% lower, respectively.

Stocks of Suncor Energy Inc., Manulife Financial Corporation, Kinross Gold Corporation., Air Canada and Enbridge Inc. were among the most actively traded stocks on the Toronto Stock Exchange.

52 Week High/Low: Dye & Durham Limited, Trillium Therapeutics Inc., and Hardwoods Distribution Inc. are among those tested a new 52-week-high on TSX in the last trading session of August 2020. On the other side, Bombardier Inc. and Nevada Copper Corp. tested new 52-week-lows.

At Monday closing bell, the S&P/TSX Composite Index traded below its immediate support levels of 5-day, 10-day and 20-day Simple Moving Averages (SMAs). However, managed to trade above its crucial long-term and short-term support levels of 200-day and 50-day SMAs, respectively. The leading momentum indicator, 14-day Relative Strength Index (RSI) hovering in a neutral zone.

5-day S&P/TSX Composite Index Daily Price Chart. Source: EODHD/Others (Thomson Reuters).

On Wall Street: The leading global benchmark indexes of the United States, S&P 500 Index, traded 7.70 points or 0.22% lower at 11,775.46. The Dow Jones Industrial Average Index declined 223.822 points or 0.78% to 28,430.05 and technology benchmark index Nasdaq Composite added 79.82 points or 0.96% to 11,775.46.

TSX Top Movers*: SOPerior Fertilizer Corp. (up 42.86%), Hanwei Energy Services Corp (up 33.33%), Titan Mining Corporation (up 27.12%), and Xanadu Mines Ltd. (up 25%).

TSX Bottom Movers*: Century Global Commodities Corporation (down 48.65%), Prairie Provident Resources Inc. (down 25%), Conifex Timber Inc. (down 17.24%), and General Moly Inc. (down 13.51%).

*As on August 31^st, 2020, after the market close

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