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ON TSX: After two consecutive days of losses the benchmark index of the Toronto Stock Exchange, S&P/TSX Composite Index, traded in green on Thursday and added 29.38 points or 0.18% against the previous close to touch 16,607. Technology stocks moved higher and the capped IT Index surged 2.18% to 170.34. However, energy and base metal stocks dragged the index lower and partially eroding the gains accumulated by technology stocks.
The key TSX index traded above its long-term and short-term crucial support levels of 200-day, 100-day, 50-day, 20-day and 10—day Simple Moving Averages (SMAs). It however, traded below its 5-day SMA support level. The leading momentum indicator – 14-day Relative Strength Index (RSI) hovering in neutral territory, however, mostly oscillating near overbought zone.
S&P/TSX Venture Composite Index, the leading index of the Toronto Venture Index, closed marginally lower at 739.48.
Five-day S&P/TSX Composite Chart (as on August 20th, 2020). Source: EODHD/Others (Thomson Reuters).
52W High/Low: FirstService Corporation, Dollarama Inc., and Gold Mining Inc., are among the stocks which registered a new 52-week high on the Toronto Stock Exchange. On the other side, Just Energy Group Inc., and Bombardier Inc. Class A registered a new 52-week lows on the index.
ON Wall Street: Equities on Wall Street traded higher on Thursday, with S&P 500 index adding 10.86 points or 0.32% higher to 3,385.51. The Dow Jones added 46.85 points to 0.17% to 27,793.73 and the technology benchmark index Nasdaq Composite Index leapt up 118.49 points or 1.06% to 11,264.95. Nasdaq ended at a record high on Thursday, as gains in heavyweight tech stocks outweighed downbeat data that affirmed the Federal Reserve's view of a difficult road to economic recovery.
TSX Composite Index Cues
Sector Summary
Gainers: Technology (up 2.46%), Basic Materials (up 0.95%) and Consumer Cyclicals (0.26%).
Laggards: Healthcare (down 0.87%), Energy (down 0.84%) and Financials (down 0.29%).
Stocks Cues
Top Movers: Cineplex Plc (up 10.81%), Boardwalk Real Estate Investment Trust (up 5.1%, and Lightspeed POS Inc (up 4.8%) respectively.
Bottom Movers: Tech Resources Ltd. (down 6.6%), Ballard Power System Corp (down 5.7%) and Enerplus (down 4.8%).
Volume Leaders: Manulife Financial Corporation, Sun Life Financial Inc. and Suncor Energy Inc.
Commodity Cues
Gold*: Gold futures gave up 1.21% against the previous close to hit US$ 1,946.50/oz on Thursday.
*As on 20 August, 2020 (after the markets close)
