The TSX Composite Index closed at a higher note for the second consecutive day, up 0.65% or 106.24 to 16,534.54. During the day trading hours, the index tested a high of 16,539.13 and a low of 16,481.57. It traded at a Price-to-Earnings (PE) multiple of 17.83x and offering a dividend yield of 3.56%.
Healthcare and energy stocks nudged higher, followed by consumer cyclicals, real estate, and basic materials.
One-Year Price Chart (as on October 08, 2020); Source: Refinitiv (Thomson Reuters)
On the daily price chart, TSX Composite traded above all its moving averages. It traded above the crucial short-term as well as the long-term support levels of 50-day and 200-day Simple Moving Averages (SMAs), implying a bullish trend. The 14-day and 9-day RSI hovered in a neutral zone and tilted towards the overbought zone. The Moving Average Convergence/Divergence (MACD) is also rising, with a positive difference between 12-day and 26-day Exponential Moving Averages (EMAs) positive.
Source: Refinitiv (Thomson Reuters)
Stocks in Play*
Gainers: Canopy Growth Corp (up 13.0%), Bausch Health Companies Inc (up 11.7%) and Aphria Inc (up 10.3%), respectively.
Losers: Ballard Power Systems Inc (down 4.2%), Brookfield Renewable Partners LP (down 4%) and Westshore Terminals Investment Corp (down 3.0%)
Volume Leaders: Toronto-Dominion Bank, Suncor Energy Inc. and Aphria Inc.
On Wall Street: Stocks in the United States extended gains of the previous trading session, with the global equity benchmarks of the United States settling higher. The price dominated Dow Jones Industrials up 0.4% or 122 points to 28,425.51, the Nasdaq Composite Index added ~ 56 points or 0.50% to 11,420.98 and the S&P 500 index traded 0.80% higher to 3,446.83, respectively.
Gold Future rose by 0.23% to 1,895.10.
Brent Oil surged 3.22% to US$ 43.34/bbl and WTI Crude Oil leapt 3.1% higher at US$ 41.9/bbl
*As on October 08, 2020