TSX Reclaims 17800, Soars On Positive Cues From Global Markets

2 min read | February 03, 2021 09:00 AM AEDT | By Team Kalkine Media

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TSX Reclaims 17800, Soars On Positive Cues From Global Markets

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The stock market soared for the second consecutive day as positive momentum from global markets led by growing hope over US Stimulus plan pushed the Canadian equities higher. Offsetting all the last week’s losses, the S&P/TSX Composite crossed 17,800 mark and settled 1.03% or 182 points higher at 17,874.49.

5-day S&P/TSX Composite Index Chart (as on February 02, 2021)/ Source: EODHD/Others (Thomson Reuters)

The healthcare sector led the Canadian markets on Tuesday, with sectoral index surging by 5.5% to 86.62, followed by Industrials up 2.53%. Financial sector stocks also strengthened.

Metals and Mining was the only laggard on the Tuesday, declined 0.99% to 142.01.

Leading the S&P/TSX Composite Index, Aphria Inc (up 17.6%), Aurora Cannabis Inc (up 13.1%), and Cronos Group Inc (up 10.3%) were top performers. On the other side, First Majestic Silver Corp (down 24.7%), BlackBerry Ltd (down 21.4%), and Silvercorp Metals Inc (down 17.3%) stood as biggest losers. BlackBerry Limited, Aphria Inc. and Supreme Cannabis Company Inc. were the most active stocks from the volume standpoint.

On Wall Street: US stocks soared up for the second consecutive day, with the technology benchmark index soared 1.56% to 13,612.78, the Dow Jones Industrials moved 1.57% higher 30,687.48 and the S&P 500 index added 1.39% to 3,826.31.

Commodity Cues*

Oil soared up for the second consecutive day, with Crude WTI moved 2.26% higher at $54.76/bbl, and Brent Oil traded 1.97% to $57.46/bbl, respectively.

Gold settled 1.64% lower against the previous close at $1,835.95/oz.

Yields on the Canada 10-Year Bonds went up by 2.49% on Tuesday and settled at 0.905%.

Currency pair, USD/CAD traded 0.54% lower at 1.2780.

*Details after markets close on Feb 2, 2021

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