TSX Composite Starts The Week On A Positive Note

2 min read | September 28, 2020 11:11 PM EDT | By Team Kalkine Media

Canadian equity market started the week on a positive note as S&P/TSX Composite Index rose ~177 points to 16,242.81 on Monday (28 September 2020). Barring healthcare, all other sectors closed in green. Real Estate and Consumer Cyclicals were the drivers behind the rally.

Five-day price chart (after market close, as on September 28, 2020); Source: EODHD/Others (Thomson Reuters)

The S&P/TSX composite index traded above the 200-day Simple Moving Average (SMA), which acts as crucial long-term support. Also, the index closed above the short-term support level of 5-day and 10-day SMA. The leading momentum indicator 14-day and 9-day RSI was hovering in a neutral zone, mostly tilted towards the oversold territory.

TSX Sector Summary

Gainers: Real Estate (up 3.09%), Consumer Cyclicals (up 2.16%) and Financials (up 1.95%)

Losers: Healthcare (down 0.07%).

Source: EODHD/Others (Thomson Reuters)

Stock Cues*

Top Gainers: Methanex Corporation (up 6.91%), Baytex Energy Corp. (up 6.90%) and Enerplus Corporation (up 6.72%).

Top Laggards: Lundin Mining Corporation (down 6.23%), Aurora Cannabis Inc. (down 4.13%), BlackBerry Limited (down 2.98%).

Volume Leaders: Just Energy Group Inc., Bank of Nova Scotia and Royal Bank of Canada

On Wall Street: Stocks on Wall Street continued to rise for the third straight day, with the Dow Jones Industrial Average moving 410.1 points or 1.51% north to 27,584.06. Nasdaq Composite Index rose 203.96 points or 1.87% to 11,117.53, and the S&P 500 index increased 53.14 points or 1.61% to 3,351.6.

Commodity Cues*

International crude oil benchmark Brent traded higher at 0.31% to US$ 42.42/bbl, and the WTI Crude Oil rose 1.22% to US$ 40.60/bbl.

Gold Futures gained some ground and increased by 0.91% to US$ 1,882/oz on Monday.


*Details as on 28 September 2020 (after markets close)


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