TSX Pauses 7-Day Rally, Declines to 18,874.01

2 min read | March 16, 2021 02:38 PM PDT | By Team Kalkine Media

Copyright © 2021 Kalkine Media Pty Ltd.

Weakness in the US markets dragged Canadian indices lower as well. The flagship index of the Toronto Stock Exchange, the S&P/TSX Composite, settled in red after seven consecutive days of positive closing. The index gave up ~ 81 points or 0.43% to 18,874.01.

However, the leading equity index of the TSX did register a new record high of 18,974.19 but could not sustain it and declined in late trading session.

5-day S&P/TSX Composite Index Price Chart (as on March 16, 2021). Source: EODHD/Others (Thomson Reuters)

High-weighted energy sector stocks dragged the index lower led by extended weakness in the crude oil prices for the third consecutive day. The index was down 3.19%.

Metals and Mining sector stocks also moved lower, with the sectoral index declining 3.0%.

 

Top-5 Gainers & Losers

Ticker

Company Name

% Change

Top-5 Gainers

RCIb

Rogers Communications Inc

5.7%

KXS

Kinaxis Inc

5.2%

MSI

Morneau Shepell Inc

2.8%

QBRb

Quebecor Inc

2.8%

TOY

Spin Master Corp

2.8%

Top-5 Laggards

APHA

Aphria Inc

-9.3%

ACB

Aurora Cannabis Inc

-6.8%

FM.

First Quantum Minerals Ltd

-6.1%

WEED

Canopy Growth Corp

-5.5%

MEG

MEG Energy Corp

-5.3%

Source: EODHD/Others (Thomson Reuters)

Stocks on the Wall Street traded in mix, with technology benchmark Nasdaq Composite Index managed to trade in green up slightly by 0.09% to 13,471.57, other two leading indices settled in red, with Dow Jones declined 0.39% to 32,825.95, and the S&P 500 Index traded 0.16% lower at 13,471.57.

 

Commodity, Currency and Money Market Cues

 

Gold contract extended rally for the second straight day, up 0.10% to $1,730.90/oz.

Crude Oil continued to trade lower for the third consecutive day, with the American WTI Crude down 0.90% to US$64.80/bbl. International benchmark Brent Oil traded 0.71% lower at US$68.39/bbl, respectively.

The US Dollar Index strengthened against a basket of majors and moved slightly higher by 0.03% to 91.880.

Canadian Dollar strengthened against the US Greenback for the seven-straight day, up 0.16% on Tuesday to 0.8031 vs 0.8018 on Monday.

Yield on the US 10-Year Treasury Bond increased by 0.88% to 1.621%.

Canadian 10-Year Government Bond Yield increased 1.8% to 1.57% on Tuesday.


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