TSX ends session in red as IT sector dips, loonie remains unchanged

Published on July 27, 2022 04:29 AM EDT

More on: Manulife Financial Corp Royal Bank of Canada

TSX ends session in red as IT sector dips, loonie remains unchanged — Image source: © Darkworx | Megapixl.com

At market close on Tuesday, July 26, Canadian stocks were down because of losses in the tech, health care, and consumer discretionary sectors. The S&P/TSX Composite Index fell 0.69 per cent at the close in Toronto.

The IT sector declined significantly by 4.6 per cent, and the health care sector losses stood at 2.6 per cent. Due to the anticipated rate hike by the US Federal Reserve, investors in Canada have become cautious and that might have triggered a sell-off in the equities markets.

Volume Active

Athabasca Oil Corporation (TSX:ATH) saw approximately 10.9 million shares traded on July 26 and was the most active stock on the Toronto Stock Exchange (TSX). It was followed by one of the biggest bank stocks, Royal Bank of Canada (TSX:RY), which saw 7.4 million shares exchanged hands, and Manulife Financial Corporation's (TSX:MFC) 6.7 million shares traded hands on the TSX.

Wall Street updates

After the market closed on Tuesday, US equities declined as losses in the consumer services, technology, and financial sectors drove down stock prices.

The NASDAQ Composite Index sank 1.87 per cent, the S&P 500 index fell 1.15 per cent, and the Dow Jones Industrial Average declined by 0.71 per cent at the NYSE close.

Commodities

Gold Futures for August delivery decreased 0.21 per cent to US$ 1,715.55 a troy ounce. While this was happening, the price of September delivery crude oil dropped 1.48 per cent to US$ 95.27 per barrel, and the October Brent oil contract dropped 0.70 per cent to US$ 99.49 per barrel.

Currency news

While CAD/EUR increased 0.81 per cent to 0.77, CAD/USD remained constant at 0.78. Meanwhile, the US Dollar Index Futures were up by 0.66 per cent to 107.06.

Raza Naqvi

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Raza Naqvi - Financial Journalist
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Raza comes from a hard-news background and is an experienced writer with a demonstrated history of working in reputed organizations like the United Nations, Indian Express, and Hindustan Times. Currently, he is exploring the financial world!...

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