The Canadian markets declined on Tuesday, August 2, as investors lost confidence due to rising tensions between China and the United States. The slowdown in manufacturing activity could be another reason behind the fall of Canada's major stock index.
The S&P/TSX Composite Index fell 0.95 per cent and closed at 19,505.33 points after the energy and telecom sectors declined sharply during the trading hours.
The energy index tumbled by about two per cent, and the telecom sector was down by 1.25 per cent at market close.
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One-year price chart of TSX Composite Index along with SMA 20-day, SMA 30-day, SMA-50-day (August 3). Analysis by © 2022 Kalkine Media®
Volume active
Enbridge Inc. (TSX:ENB) recorded a volume of 19.69 million shares and became the most active stock on August 2. However, the price of the ENB stock was down by 1.5 per cent to C$ 56.63 per share.
After Enbridge, the maximum number of shares traded belonged to Athabasca Oil Corporation (TSX:ATH). Around 12.3 million ATH shares exchanged hands on Tuesday.
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Wall Street updates
Investors saw a decline in stock prices on Wall Street due to China's criticism of Nancy Pelosi, the speaker of the US House of Representatives, for travelling to Taiwan.
NASDAQ Composite Index was down by 0.16 per cent and closed at 12,348.76 points. Meanwhile, the S&P 500 fell 0.67 per cent to close at 4091.19.
Commodities
The Gold prices were up by 0.11 per cent to US$ 1789.7 per troy ounce. Meanwhile, Brent Oil Futures for October declined by 0.09 per cent to US$ 99.88 per barrel.
Crude Oil WTI Futures for September rose by 0.1 per cent to US$ 93.83 per barrel.
Currency news
The Canadian dollar was valued at 77.78 US cents, down from 77.98 US cents on Friday.
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