TSX Rallies After Volatile Spell, Ends Session Nearly 1% Up

(RTTNews) - After swinging between gains and losses till around mid afternoon, the Canadian stock market rallied on Friday to close on a strong note.

Technology and healthcare stocks posted handsome gains, contributing substantially to market's upmove. Several stocks from telecom, real estate, industrials and consumer sectors too posted impressive gains.

The benchmark S&P/TSX Composite Index, which dropped to a low of 20,411.76 after opening at 20,549.42, ended the day with a gain of 197.64 points or 0.96% at 20,741.75, the day's high.

The index gained a modest 0.6% in the week.

The Capped Information Technology Index climbed 4.29%. Hut 8 Mining Corp (HUT.TO), Celestica Inc (CLS.TO), Kinaxis Inc (KXS.TO) and Shopify Inc (SHOP.TO) gained 7 to 8%. Converge Technology Solutions (CTS.TO), Lightspeed Commerce (LSPD.TO), Tecsys Inc (TCS.TO), Descartes Systems (DSG.TO), Nuvei Corp (NVEI.TO) and BlackBerry (BB.TO) gained 4.7 to 6.8%.

Among the stocks in the Healthcare index, Canopy Growth Corp (WEED.TO) gained 6.3%, Tilray Inc (TLRY.TO) surged up 5% and Cronos Group (CRON.TO) climbed 4.8%. Aurora Cannabis (ACB.TO), Bausch Health Companies (BHC.TO) and Sienna Senior Living (SIA.TO) ended stronger by 4%, 3.75% and 2.3%, respectively.

Materials shares Capstone Mining Corp (CS.TO), Turquoise Hill Resources (TRQ.TO), Teck Resources (TECK.B.TO) and Ero Copper (ERO.TO), which eased by 3 to 4.2%, were among the prominent losers in the session.

Canadian Pacific Railway (CP.TO), Magna International (MG.TO) and Newmont Corporation (NGT.TO) also ended notably lower.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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