TSX Down After Record Gain, Cronos & OrganiGram Biggest Losers

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 TSX Down After Record Gain, Cronos & OrganiGram Biggest Losers
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After hitting a fresh high at the start of the session due to an uptrend in energy stocks, the S&P/TSX Composite Index settled ~121 points, or 0.61%, lower at 19,730.99 on Monday, May 31.

The consumer sector witnessed decline wherein discretionary stocks fell 1.2% and staples lost 1.1%. Healthcare and industrials sectors also slipped 1.4% and 0.8%, respectively.

1-Year Price Chart (as on June 01, 2021). Source: Refinitiv

May 2021 turned out to be a reasonable month for the trading market, although skepticism over rising inflation and slow-moving economy did put a dent on investor confidence.

Major Movers and Gainers

Active Volume

Zenabis Global Inc, with 9.29 million, Suncor Energy Inc, with 6.96 million, and Baytex Energy Corp, with 5.78 million shares, were the most actively traded shares on the TSX on Monday.

Wall Street

The US markets remained closed on Monday for the event of Memorial Day. Its futures sank along with European equities as traders awaited new triggers. The vital US employment data is expected to give more insights.

Commodity Update

Gold recorded some positive momentum and closed at US$ 1,911.15, up 0.23%.

Oil rose as OPEC and its partners predicted that if the cartel sticks to its present plans, inventories will decline considerably this year. On account of this, Brent Oil climbed 0.57% to close at US$ 69.32/bbl, while WTI Crude Oil jumped 0.56% to close at US$ 66.96/bbl.

Currency News

The Canadian Dollar was up against the US greenback on Monday. The USD/CAD closed in red at 1.2062, down 0.14%.

On May 31, the US Dollar Index corrected 0.33% against the basket of major currencies and closed at 89.79, after gaining for the last two sessions.

Money Market

The US 10-year bond yield closed in green at 1.610 after surging 1.83% on May 31.

The Canada 10-year bond yield ended in red after a two-day gain at 1.483 on Monday, sliding 1.46%.


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