TSX in freefall with all sectors in red, loonie gains

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TSX in freefall with all sectors in red, loonie gains

 TSX in freefall with all sectors in red, loonie gains
Image source: Copyright © 2022 Kalkine Media

Canada’s stock market has been in retreat mode. On Thursday, January 20, the TSX Composite Index lost 146.98 points, 0.69 per cent, to 21,058.18. The index has lost 2.24 per cent in the last three days.

The industrials sector saw no change but every other major sector had losses. A notable mention would be WELL Health Technologies Corp, whose stock gained 10.4 per cent.

One-year price chart (January 20). Analysis by © 2022 Kalkine Media®

Volume actives
In terms of volume, the top three were energy stocks. Suncor Energy Inc saw 7.3 million shares traded, making it the most active stock. It was followed by Cenovus Energy Inc that saw 7.1 million shares switch hands, and Enbridge Inc saw 6.7 million shares traded.

Movers and laggards

Wall Street update

On Wall Street, trade began on an optimistic note, before going south, resulting in losses. The Dow lost 313.26 points, 0.89 per cent, to 34,715.39 points, while the S&P 500 plummeted 50.03 points, 1.10 per cent, to 4,482.73 points. Nasdaq’s benchmark dipped 186.24 points, 1.3 per cent, to 14,154.02.

Commodities update

Gold dipped 0.03 per cent to US$1,842.60. Brent oil fell 0.07 per cent to US$ 88.38/bbl. Crude oil was also down by 0.07 per cent to US$ 86.90/bbl.

Currency news

The loonie posted a 0.09 per cent gain Thursday while USD/CAD ended at 1.2502. The US Dollar Index was at 95.74 against the basket of major currencies, up 0.24 per cent.

Money market

The US 10-year bond yield fell 2.31 per cent to 1.811 and the Canada 10-year bond yield was down 2.55 per cent to 1.833.

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