The equity markets in Canada gained significantly on Tuesday, October 4, and the S&P/TSX Composite Index surged by 2.59 per cent to close at 19,370.99 points. Meanwhile, the junior S&P/TSX Venture Composite climbed 2.5 per cent and settled at 623.23 points.
The information technology and energy sectors recorded high gains of 5.18 per cent and 4.49 per cent. On the other hand, other sectors like health care, base metals, and financials were up by 3.45 per cent, 2.84 per cent, and 2.63 per cent.
One-year price chart of TSX Composite Index along with SMA 20-day, SMA 30-day, SMA-50-day (October 4). Analysis by © 2022 Kalkine Media®
The Toronto-Dominion Bank (TSX: TD) was the most traded stock on the Toronto Stock Exchange and had a volume of 15.7 million. Meanwhile, the Bank of Nova Scotia (TSX: BNS) took second place as 12.53 million BNS shares exchanged hands on October 4.
The third most volume active stock on the TSX was Baytex Energy Corp (TSX: BTE), with a trading volume of 7.57 million.
Wall Street update
At the close of trading on Tuesday, US stocks were up due to advances in the oil & gas, basic materials, and industrials sectors.
The NASDAQ Composite Index increased 3.34 per cent, the S&P 500 index rose 3.06 per cent, and the Dow increased 2.8 per cent at the NYSE close.
The Gold Futures were up 1.67 per cent at US$ 1,730.5 per troy ounce. The crude oil prices climbed on Tuesday as the Brent Oil Futures jumped 3.3 per cent to US$ 91.8 a barrel. In comparison, the WTI Futures were up by 3.46 per cent to US$ 86.52 per barrel.
The loonie remained strong and was up 0.83 per cent at 0.7399.