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Equity benchmark index TSX Composite Index extended losses for the third consecutive day, dropping by 47.75 points or 0.29% to 16,198.97 on Friday. Real Estate, Academic & Educational Services and Energy stocks were the biggest losers, which dragged the index lower. However, gain in the technology stocks offset some of the losses. From the weekly return standpoint, TSX Composite Index settled in red zone for the third consecutive week, implying weakness in the broader market.
At the last closing, the S&P/TSX Composite index traded below its five-day, 10-day, 20-day, 30-day, and 50-day Simple Moving Averages (SMAs), implying short-term weakness in the broader market. It, however, manged to trade above its long-term support levels of 100-day and 200-day SMAs.
Five-day Price Chart (as on September 18, 2020 / Source: EODHD/Others, Thomson Reuters)
Sector Summary
Gainers: Technology (up 1.08%), Consumer Non-cyclicals (up 0.58%) and Utilities (up 0.17%)
Laggards: Real Estate (down 1.20%), Academic & Educational Services (0.85%) and Energy (down 0.70%)
Source: EODHD/Others, Thomson Reuters
Top gainers: Kinross Gold Corp (up 6.34%), Methanex Corp (up 5.73%) and Winpak Ltd (up 4.57%)
Top losers: Corus Entertainment Inc (down -7.89%), Air Canada (down 5.6%), and Aurora Cannabis Inc (down 4.8%)
On Wall Street: Free fall continued on the Wall Street, with technology benchmark index Nasdaq Composite trading in red zone for the third consecutive day and settled 117 points or 1.07% lower at 10,793.28. The index gave up more than one per cent each day in the last three trading sessions. Further, the Dow Jones Industrials gave up 244.56 points or 0.86% to 27,657.42 and the S&P 500 declined 1.12% to 3,319.47.
Commodity Cues*
Gold Futures traded 0.63% higher to US$ 1,962.10/oz.
Brent Crude Oil traded 0.35% lower at US$ 43.15/bbl and Crude WTI traded 0.34% higher at US$ 41.11/bbl.
USD/CAD traded up 0.30% to 1.3204 and the Dollar Index traded 0.02% lower at 92.95 against a basket of currencies.
*Details as on September 18, after markets close.
