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The S&P/TSX Composite traded lower for the third straight day, down 0.03% to 18,700.67 on Wednesday. However, the index bagged approximately 3.5 per cent in March 2021, recording second consecutive month of gains.
Regardless of slight weakness in the broader index, the small-caps and mid-caps recorded strength, with S&P/TSX SmallCap index surging 0.82% to 715.61 and S&P/TSX MidCap up 0.44% to 1,117.15.
S&P/TSX Venture Index surged 2.53% to 952.55.
On daily price chart, the index traded below its short-term moving averages of 5-day, 10-day, and 20-day short-term moving averages (SMAs) but managed to trade above its crucial short-term support level of 50-day SMA and long-term moving average of 200-day SMA. Momentum indicator 14-day Relative Strength Index is hovering in neutral zone at 54.4, a positive bias.
Volume Leaders: Bombardier Inc. Class B (20.49 mn), Toronto-Dominion Bank (14.97 mn), and Bank of Nova Scotia (11.07 mn).
5-day Price Chart (as on March 01, 2021). Source: EODHD/Others (Thomson Reuters)
Movers and Laggards
|
Ticker |
Company Name |
% Change |
|
Top-5 Gainers |
||
|
LAC |
Lithium Americas Corp |
11.7% |
|
WFG |
West Fraser Timber Co Ltd |
8.2% |
|
SIL |
Silvercrest Metals Inc |
7.2% |
|
FVI |
Fortuna Silver Mines Inc |
7.0% |
|
BLDP |
Ballard Power Systems Inc |
6.6% |
|
Top-5 Laggards |
||
|
BB |
BlackBerry Ltd |
-10.5% |
|
RUS |
Russel Metals Inc |
-2.9% |
|
RCI.B |
Rogers Communications Inc |
-2.8% |
|
LB.TO |
Laurentian Bank of Canada |
-2.8% |
|
QBR.B |
Quebecor Inc |
-2.6% |
Source: EODHD/Others (Thomson Reuters)
US Market Update: Technology benchmark Nasdaq Composite Index moved 1.54% higher on Wednesday to 13,246.87. The S&P 500 added 0.36% to 3,972.89 lead by strength in the technology stocks, and the Dow Jones Industrials declined 0.26% to 32,981.55.
Commodity Update
International Crude Oil benchmark Brent Oil Futures contracted for the second straight day, down 0.94% to US$63.54/bbl. The American Oil benchmark, Crude WTI, traded 2.30% lower to US$ 59.10/bbl.
Gold Contract offset loses of the previous trading session, up 1.78% to $1,713.80/oz. Also reclaimed its $1,700/oz mark in the Wednesday trading session.
Forex Update
Canadian Dollar recorded strength against its US counterpart, with CAD/USD up 0.61% to 0.7961.
US Dollar Index traded slightly lower by 0.09% to 93.236.
Money Market Update
Yield on the Canadian 10-Year Government Bond rose 1.76% to 1.561% while the US 10-Year Treasury Bond Yield increased 1.99% on Wednesday to 1.744%.
