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The broader index of the Canadian market, S&P/TSX Composite Index, added 24.72 points or 0.15% to 16, 304.08 on Friday, buoyed by gains in the energy and telecommunication sectors.
The leading momentum indicator, the moving average convergence/divergence is rising and hovering around the nine-day signal line, with the difference between 12-day EMA and 26-day EMA being positive.
The index traded above its crucial support levels of 200-day, 100-day, 50-day and 30-DAY Simple Moving Averages (SMAs), implying a positive momentum.
At the close bell, the index featured a dividend yield of 3.59% and traded at a Price-to-Earnings (PE) multiple of 17.71x.
Telecommunication sector gained 4.2 per cent with Rogers Communications and Corus Communications surged 11.6 and 7.6 per cent, respectively. Energy index gained 4.1 per cent on higher crude oil prices.
5-day Price Chart as on October 23, 2020, after markets close; Source: EODHD/Others (Thomson Reuters)
On Wall Street: U.S. stock indexes are traded lower on Friday as Wall Street weighed another batch of corporate results from the summer earnings period. The S&P 500 gained 0.34% on Friday. The Dow posted loss for the first time in four weeks, down 0.95%. The Nasdaq composite gained 0.37%.
Commodity News*
Gold Futures traded marginally higher at US$ 1,905.20/oz.
The International Oil benchmark Brent Oil declined 1.63% to US$ 41.77/bbl and the WTI Crude oil traded 1.94% lower at US$ 39.85/bbl.
*Details after markets’ close on October 23
