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Canada's leading S&P/TSX Composite Index posted sharp monthly losses, plunging 2.38% in September. This is the first negative monthly close since the market’s free fall in March, which was led by lockdown and pandemic containment measures.
The index settled ~90 points or 0.56% lower to 16,121.38 on Wednesday, extending previous day’s losses.
One-Year Price Chart (as on September 30, 2020, after markets close / Source: EODHD/Others (Thomson Reuters)
TSX Composite’s dividend yield stood at 3.60% and traded at a Price-to-Earnings (PE) Multiple of 17.71x.
The key index traded below its crucial short-term support levels of 30-day and 50-day Simple Moving Averages (SMAs). However, it settles above its immediate and long-term support levels of five-day, 10-day, 100-day, and 200-day SMAs. The 14-day Relative Strength Index, the leading momentum indicator, hovered in a neutral zone and tilted towards the oversold zone.
The junior Canadian index, S&P/TSX Venture Composite Index, also doffed 5.94% in September. During Wednesday’s trading session, the index lost 0.85% or 6.03 points to close at 706.51.
On Wall Street: Global benchmark indices of the United States ended the day on a positive note, with the Dow Jones Industrials rising by 329.04 points or 1.20% to 27,781.70. Technology benchmark Nasdaq Composite Index bagged ~82 points or 0.74% to 11,167.51, while the S&P 500 index gained 27.53 points or 0.83% to 3,3363.0.
TSX Cues
Sector Summary
Top Gainers: Real Estate (up 1.64%) and Healthcare (up 1.20%).
Top Losers: Energy (down 2.0%), technology (down 0.73%) and Industrials (down 0.67%).
Source: EODHD/Others (Thomson Reuters)
Stock Cues*
Top Movers: Canada Goose Holdings Inc (up 7.6%), Ero Copper Corp (up 4.9%), and Lundin Mining Corp (up 5.2%).
Bottom Movers: OceanaGold Corp (down 9.3%), Inter Pipeline Ltd (down 3.6%) and Osisko Mining Inc (down 3.6%).
Volume Leaders: NuVista Energy Ltd., Bank of Nova Scotia, and Bombardier Inc. Class B.
Commodity Cues*
Gold Futures traded 0.40% lower at US$ 1,895.50/oz.
Brent Crude Oil Futures traded 0.19% lower at US$ 40.95/bbl. However, the WTI Crude Oil Futures rose 2.37% to US$ 40.22/bbl.
USD/CAD dropped 0.51%, trading at 1.3319 against 1.3387 on Tuesday.
* Details on 30 September 2020, after markets close
