Market Update: TSX Index Moves Back to Green Zone

2 min read | September 01, 2020 11:11 PM EDT | By Team Kalkine Media

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Market Update: TSX Index Moves Back to Green Zone

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S&P/TSX Composite Index, the leading equity gauge of the Toronto Stock Exchange, traded in the green zone on Tuesday. It added 130.55 points or 0.79% after three consecutive days of losses and closed the session at 16,644.99. Technology and consumer cyclicals were the top-performing sectors on the TSX, up by 5.38% and 2.26%, respectively. Energy, industrials. utilities and financials also gained ground, surging between 0.10% to 1%. On the other side, healthcare and basic materials were the only laggards on the TSX, down 1.47% and 0.02%, respectively.

The TSX Composite Index ended the session above its 10-day, 20-day, 30-day, 50-day and 200-day SMAs, which shows that the index is hovering above its crucial short-term as well as long-term support levels. Also, the Moving Average Convergence Divergence (MACD), which reflects the difference between short-length 12-day EMA and long-length 26-day EMA, is positive and also MACD oscillator hovering above the 9-day SMA. Further, the leading momentum indicator, 14-day Relative Strength Index (RSI) is hovering in neutral zone.

Among the most active stocks on the TSX from volume standpoint include Suncor Energy Inc., Algonquin Power & Utilities Corp., Air Canada, Barrick Gold Corporation and Enbridge Inc.

5-day S&P/TSX Composite Index Price Chart (as on September 1, 2020). Source: EODHD/Others (Thomson Reuters)

52-Week High: Shopify Inc. Class A (up 6.73%), Trisura Group Ltd. (6.27%), FirstService Corporation (up 1.99%) and Descartes Systems Group Inc. (up 2.65%) are among the stocks tested a new 52W high during Tuesday’s trading hours.

52-Week Low: No stock recorded a 52W Low on Tuesday.

Movers on TSX Composite Index*: Kinaxis Inc (up 7.9% to CAD 214.68), Enghouse Systems Ltd (up 7.86% to CAD 78.50), Ivanhoe Mines Ltd (up 7.38% to CAD 5.53), BlackBerry Ltd (up 7.06% to CAD 7.28) and Shopify Inc (up 6.73% to CAD 1,487.02), respectively.

Laggards on TSX Composite Index*: Aurora Cannabis Inc (down 5.59% to CAD 12.16), Cineplex Inc (down 3.23% to CAD 9.58), B2Gold Corp (down 3.08 to CAD 8.49) and Iamgold Corp (down 3.03% to CAD 5.44) and First Majestic Silver Corp (down 2.78% to CAD 15.76).

Commodity Cues*

Precious metals Gold and Silver modestly up on Tuesday. Gold Futures added marginal 0.2% to US$ 1,978.90/oz, and Silver Futures added 0.18% to US$ 28.645/oz.

International oil benchmark index Brent Oil increased by 0.66% to US$ 45.38/bbl, and WTI Crude Oil added 0.35% to US$ 42.76/bbl.

Details on September 1, 2020, after markets close.

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