TSX Hits Record High, Led by Commodity Price Rally

2 min read | April 16, 2021 07:57 AM AEST | By Team Kalkine Media

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TSX Hits Record High, Led by Commodity Price Rally

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The S&P/TSX Composite moved to a record high on Thursday of 19,337.17. The rally was driven by strengthening oil and gold prices, both heavyweight sectors on the TSX Composite index.

Oil prices surged to a four-week high after China reported 18.3% jump in GDP.

The Canadian S&P/TSX Composite Index rose 0.78% at 19,321.92. TSX recorded highest traded volume of 202.99 million. Also, the other indices settled in green were the TSX Venture Index up by 1.53%, settled at 938.82 and TSX 60 up 0.74% settled at 1152.02.

5-day S&P/TSX Composite Price Chart (as on April 15, 2021). Source: EODHD/Others (Thomson Reuters)

Movers and Laggards on TSX Composite

Ticker	Company Name	% Change
Top-5 Movers
MRE	Martinrea International Inc	7.4%
FVI	Fortuna Silver Mines Inc	7.1%
HBM	Hudbay Minerals Inc	6.7%
BTO	B2Gold Corp	6.7%
SIL	Silvercrest Metals Inc	6.6%
Top-5 Laggards
AT	AcuityAds Holdings Inc	-6.7%
BLDP	Ballard Power Systems Inc	-6.5%
NPI	Northland Power Inc	-6.0%
LAC	Lithium Americas Corp	-4.5%
APHA	Aphria Inc	-4.5%

Source: EODHD/Others (Thomson Reuters)

Active Volume Leaders

The Royal Bank of Canada, Supreme Cannabis Company Inc and Suncor Energy Inc. were the most heavily traded companies by volumes on the TSX with 8.58 million, 8.28 million and 5.66 million, respectively.

Wall Street Update

Tech stocks rallied in the US markets, fueled by decline in the bond yields and solid March U.S. retail sales. All benchmark indices soared up. The Dow Jones industrials closed above 34,000 for the first time and at one point during intraday hit 305.10 points or 0.90% to 34,035.99. The S&P 500 also set a new high and finally closed 45.76 points or 1.11% to 4170.42 higher. The Nasdaq added 180.92 points or 1.31% to 14,038.76.

Commodity Update

Gold futures traded 1.76% higher and pared all the losses of the previous trading session to close at US$1765.40/oz

Brent Oil added 0.54% to US$ 66.94/bbl and WTI Crude Oil increased by 0.49% to US$ 63.84/bbl.

Money Market and Forex Update

The U.S. 10-year bond yield was down by 3.67% on April 15, 2021 at 1.574%. On the other hand, Canada 10-year bond yield slide by 0.259% to 1.488%.

The Canadian dollar lost ground against its US counterpart after two straight days of strength, down 0.18 per cent to 0.7971. The USD/CAD traded 0.17% higher at 1.2541.

The US Dollar Index traded lower for the fourth straight day, down 0.6% on Thursday.

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