TSX Composite Closes Slightly Lower, Metals and Mining Down 2%.

The broader equity index of the Toronto Stock Exchange, the S&P/TSX Composite Index traded lower and settled approximately 51 points or 0.28% lower at 17,934.74 on Wednesday. During the day trading hours, the index tested an intraday low of 17,897.17 and a high of 18,009.98.

The index traded above its crucial immediate support level of 5-day and 10-day EMAs. It continued to trade well above its short-term as well as long-term support levels of 20-day, 30-day, 50-day, 100-day, and 200-day SMAs. Further, the leading momentum indicator the 14-day RSI hovering in neutral zone, with the MACD is rising and hovering above 9-day SMA signal line, with the difference between 12-day and 26-day EMAs is positive.

At the close, the S&P/TSX Composite Index featured a dividend yield of 3.3% and traded at a Price-to-Earnings (P/E) ratio of 19.96x.

5-day TSX/Composite Index Price Chart (as on January 13, 2021). Source: EODHD/Others (Thomson Reuters)

Top Performers on TSX Composite: Bausch Health Companies Inc (up 10.3%), Cronos Group Inc (up 9.5%), and Lightspeed POS Inc (up 8.0%) respectively.

Top Laggards on TSX Composite: Alimentation Couche-Tard Inc (down 10.2%), Pan American Silver Corp (down 5.9%), and Methanex Corp (down 5%), respectively.

Volume Leader: Alimentation Couche-Tard Inc., Aurora Cannabis Inc. and Trican Well Service Ltd.

On Wall Street:  The broader indices of the United States traded in mix, the Dow Jones Industrial declined slightly by 8.22 points or 0.03%, the S&P 500 index traded 8.65 points or 0.23% higher at 3,809.84 and the technology benchmark index the Nasdaq Composite index increased ~56.52 points or 0.43% to 13,128.95, respectively.

Commodity News*

The Gold Contract traded 0.58% higher at $1,854.90/oz.

The International Oil benchmark Bren oil declined 0.92% to $56.06/bbl and the American Oil benchmark WTI Crude declined 0.56% to $52.91/bbl.

Bond Yield*

Yield on US 10-Year Government Bond declined further for the second straight day, down 3.31% to 1.092%.

Canada 10-Year Government Bond Yield declined slightly by 0.24% to 0.841%.

Forex*

US Dollar Index traded 0.30% higher at 90.334.

Canadian Dollar Index strengthened 0.10% to 0.7875.

*All details after markets close on January 13, 2021.