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Broader equity indices of the Toronto Stock Exchange Wednesday moved higher as expectation for sharp recovery in the economy and steady rollout of COVID-19 vaccine drove the markets higher. The largely tracked Canadian index, S&P/TSX Composite, added 154.44 points or 0.84% to 18,484.52.
The gain was supported by big jump in healthcare and energy stocks. Both health care and energy sector index jumped more than 2% in the last trading session. High-weighted metals and mining and financials sectors also went up.
Six out of eight constituent sectors of the TSX settled in green. Utilities and telecom were the only laggards, declining 1.0% and 0.46%, respectively.
5-Day Price Chart (as on February 24th, 2021). Source: EODHD/Others (Thomson Reuters)
Banking stock were in focus in the Wednesday trading hours, with big banking registered a new 52-week high on the bourse. National Bank of Canada, Bank of Montreal and Bank of Nova Scotia are among the big bank names that registered a new 52W Highs on TSX on Wednesday.
TSX Composite constituent Aphria Inc, Vermilion Energy Inc, and BlackBerry Ltd were among the major gainers on Wednesday surged 11.0%, 10.9% and 8.2%.
While Altus Group Ltd (Ontario), Northland Power Inc and Empire Company Ltd were the top laggards and declined -5.4%, -3.8% and -3.3%.
Manulife Financial Corporation, Suncor Energy Inc. and Crescent Point Energy Corp. were among the most actively traded stock on TSX on Wednesday.
On Wall Street: The technology stocks gained some ground after past few days of losing streaks with Nasdaq Composite surging 0.99% to 13,597.97. The Dow Jones registered a new all time on Wednesday and traded ~424 points or 1.35% higher to 31,961.86. The S&P 500 also added 44 points or 1.14% to 3,925.43.
Energy prices were steady on Wednesday, with US WTI Crude Futures jumped 2.51% to US$63.22/bbl and International Crude Oil benchmark Brent Oil surged 2.55% to US$67.04/bbl.
Canadian Dollar further strengthened against the US counterpart, with USD/CAD pair traded 0.60% lower at 1.2511.
