TSX Gains On Markets Optmism Over US Economic Growth Forecast

2 min read | March 18, 2021 08:48 AM AEDT | By Ipsita Sarkar

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TSX Gains On Markets Optmism Over US Economic Growth Forecast

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Stock markets across North America were lifted after the US Federal Reserve forecasted a rapid recovery in the economic growth and promised to keep its interest rates near zero levels in future.

The S&P/TSX Composite index added 0.57 per cent or 109.09 points to close at 18,983.10 on Wednesday. Healthcare and energy indices were the biggest movers, gaining 1.54 per cent and 1.38 per cent, respectively. Financials, industrials, and metals and mining also traded in green.

Tech, telecom and utilities were the biggest losers, doffing 0.18 per cent, 0.59 per cent and 0.24 per cent, respectively.

TSXV Composite, the benchmark index of the junior market, gained 2.01 per cent to 997.54.

Canadian Natural Resources Limited (TSX:CNQ), Cenovus Energy Inc (TSX:CVE) and i3 Energy plc (TSX:ITE) were the most active stocks on the TSX. While Tinka Resources Limited (TSXV:TK), Sparton Resources Inc. (TSXV:SRI) and Cryptostar Corp. (TSXV:CSTR) were the most volume active stocks on the TSXV.

Shopify Inc (TSX:SHOP), Canadian Pacific Railway Limited (TSX:CP) and Galaxy Digital Holdings Ltd. (TSX:GLXY) were the biggest price gainers, while Constellation Software Inc. (TSX:CSU), Rogers Communications Inc. (TSX: RCI.B) and Equitable Group Inc. (TSX:EQB) were the biggest price decliners.

On Wall Street, NASDAQ added 0.39 per cent to 13,525.20 and NYSE Composite also up 0.39 per cent to 15,731.15.

The S&P 500 posted a record high, gaining 0.28 per cent to 3,974.12. Dow Jones also ended on a peak, closing above 33,000 points for the first time.

Commodities & Forex

Gold Futures - Apr 21 lost 0.22 per cent to close at US$ 1721.1 per ounce.

WTI crude futures also sank by 0.31 per cent to close at US$ 64.60 while Brent Oil futures doffed 0.57 per cent to US$ 68.00.

CAD/USD Dollar index added 0.39 per cent to 0.8062 on Wednesday.

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