AUS
NZ
UK
CA
USA
IND
Canada’s main equity index closed in red on Wednesday with S&P/TSX Composite index giving up approximately 127 points or 0.71% to 17,779.41. During the day trading, the TSX Composite tested an intraday high of 17,945.01 and a low of 17,774.38, implying volatility of ~170 points.
Heavy weightage Energy and Metals and Mining stocks dragged the broader index lower.
The Energy index was down ~3.6%, with Vermilion Energy Inc plummeting 8.8%, MEG Energy Corp down 8.4%, Suncor Energy Inc slipping 2.3% and Parex Resources Inc by 3.6%.
The Metals and Mining index plummeted ~2.5%, with First Quantum Minerals Ltd down 7.4%, Ero Copper Corp losing 6.1% and Lundin Mining Corp fell 3.4%.
However, Cannabis stocks stole the show and moved up, with Canopy Growth Corp rising by 7.5%, Aphria Inc up 7.4% and Aurora Cannabis Inc surged 4.6%.
5-day Price Chart (as on January 26th, 2021). Source: EODHD/Others (Thomson Reuters)
From the volume standpoint, BlackBerry Ltd, Suncor Energy Inc and Enbridge Inc were the most actively traded stocks on Wednesday.
Canopy Growth Corp also stood as top performing stock within the S&P/TSX Composite with 7.5% gain. The stock is up approximately 45% in the past four weeks. Aphria Inc and Ballard Power Systems Inc are the other top movers on S&P/TSX Composite, up by 7.4% and 5.1%, respectively.
In the laggard list, Vermilion Energy Inc was biggest loser, declining by 8.8%, followed by MEG Energy Corp and Crescent Point Energy Corp, down 8.4% and 7.4% respectively.
On Wall Street, all three major indices traded slightly lower, with the Dow Jones declining 0.07% to 30,937.04, the S&P 500 index settled 0.15% lower at 3,849.62 and the Nasdaq Composite Index traded 0.07% lower at 13,626.07.
In the Commodity space, WTI Crude contract ended slightly lower on Wednesday at $52.61/bbl, down 0.30%, and Brent Crude Oil traded slightly higher by 0.05% to $55.91/bbl, respectively.
The Gold Contract for February 21, declined 0.23% to $1,844.40/oz.
Forex and Money Market Update*
USD/CAD traded 0.38% lower at 1.2689, and the US Dollar index settled 0.25% lower against the basket of majors at 90.148.
Canada 10-Year Government Bond Yield declined 3.9% to 0.813% and Yield on the U.S 10-Year Treasury Bond traded flat at 1.033%.
*All details as on January 26, 2021
