6 Hours to Budget 2021: Here's How Canadian Equity Markets Are Reacting!

2 min read | April 19, 2021 11:00 AM EDT | By Anuj

6 Hours to Budget 2021: Here's How Canadian Equity Markets Are Reacting!

Stock-Wise Performances At Opening Bell

The Royal Bank of Canada (TSX:RY) and Boralex Inc. (TSX:BLX) were the top two price volume actives at the opening bell. In top gainers, HempFusion Wellness Inc. (TSX: CBD.WT.V) and RTG Mining Inc. (TSX:RTG) were up 50 per cent and 25 per cent, respectively.

Stock Market’s Expectations From Federal Budget 2021

The Canadian Finance Minister Chystia Freeland is all set to table the federal budget for 2021 today. The Liberal government could increase its spending up to C$ 100 billion between 2021 and 2024 to revive the economy from the COVID-19 led slump.

Renewable energy and clean technology stocks could see a price rally, as Freeland intends to focus on green infrastructure and climate change. Hence, green innovation funds might be offered to multiple sectors.

Image Source: ©Kalkine Group 2021

Stocks In Focus

COVID-19 Stocks, such as Therma Bright Inc. (TSXV:THRM) and WELL Health Technologies Corp. (TSX:WELL), are expected to be on investors’ radar today. Both healthcare companies have been engaging in the research and development of COVID-19 rapid test kits.

Electric vehicle and clean energy stocks, including Extreme Vehicle Battery Technologies Corp. (CSE: ACDC) and Lithium Americas Corp. (TSX:LAC), were trading in green at the opening hour session.

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