TSX Settles In Green Territory After 3 Days Of Losses

2 min read | September 09, 2020 11:00 PM EDT | By Team Kalkine Media

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TSX Settles In Green Territory After 3 Days Of Losses

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The TSX Composite Index traded in green zone after three consecutive days of decline. The index added 284.08 points or 1.76% to 16,383.60. Every constituent sector of the TSX Composite index traded in green with basic materials, consumer non-cyclicals, and technology stocks emerging as the best performers, adding more than 2.5% each.

At closing on Wednesday (September 8), the TSX Composite Index was featuring a dividend yield of 3.61% and traded at a Price-to-Earnings multiple of 17.58x.

TSX Sector Summary

Top Movers: Basic Materials (up 3.70%), Consumer Non-Cyclicals (up 3.21%), Technology (up 2.64%), Industrials (up 1.62%) and Healthcare (up 1.49%).

Source: EODHD/Others (Thomson Reuters)

From a technical standpoint, the TSX Composite Index traded above its 5-day, 50-day, 100-day and 200-day Simple Moving Averages (SMAs); however, traded below its 10-day and 20-day SMAs. The 14-day Relative Strength Index (RSI) hovered in neutral zone.

5-day daily price chart (as on September 09, 2020, after market close). Source: EODHD/Others (Thomson Reuters)

Stock Cues

Top Gainers: Ivanhoe Mines Ltd (up 8.07%), Kinross Gold Corp (up 6.45%), Pretium Resources Inc (up 5.91%), Centerra Gold Inc (up 5.53%) and Wheaton Precious Metals Corp (up 5.13%), respectively.

Top Losers: ATS Automation Tooling System Inc (down 5.17%), Lightspeed POS Inc (down 4.05%), Artis Real Estate Investment Trust (down 4.0%), OceanaGold Corp (down 2.55%), Enerplus Corp (down 2.42%) respectively.

On Wall Street: Global benchmark indices of the United States surged on Wednesday, rebounding after a three-session selloff in big technology stocks that had pushed the Nasdaq Composite Index into correction territory. The tech heavy Nasdaq added 293.87 points or 2.71% to 11,141.56, the Dow Jones Industrials bagged 439.58 points or 1.60% to 27,940.47 and the S&P 500 index added 67.12 points or 2.01% to 3,398.95.

Commodity Cues*

International Oil benchmark Brent Oil gained some ground after five consecutive days of sell-off and added 2.54% to US$ 40.79/bbl and WTI Crude Oil added 3.55% to US$ 38.05/bbl.

The safe-haven yellow metal “Gold Futures” also extended previous gain on Wednesday and traded 0.60% higher at US$ 1,954.90/oz.

*Details as on 9 September, 2020 (After markets’ close)

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