TSX Ends On Firm Note For 2nd Straight Day

(RTTNews) - Despite coming off higher levels twice before noon, the Canadian market stayed in positive territory on Friday and ended the session on a firm note, extending gains to a second straight session.

The mood remained fairly bullish amid optimism the Federal Reserve will be less aggressive with regard to interest rate hikes in the coming months, after data showed a smaller than expected rise in U.S. consumer price inflation in the month of October.

The benchmark S&P/TSX Composite Index ended with a gain of 121.15 points or 0.61% at 20,111.51. The index scaled a low of 20,023.50 and a high of 20,169.79 intraday.

Healthcare, technology, energy and real estate stocks were the major gainers in the session. Shares from utilities, industrials and consumer staples sectors were weak.

Aurora Cannabis (ACB.TO) soared more than 15%, with the counter clocking a volume of over 7 million shares. Canopy Growth Corporation (WEED.TO) surged 10.2%. The Canopy counter recorded a volume of about 6.21 million shares.

Shopify Inc (SHOP.TO) climbed 7.6%. Crescent Point Energy (CPG.TO), First Quantum Minerals (FM.TO), Vermilion Energy (VET.TO), Tamarack Valley Energy (TVE.TO), Cenovus Energy (CVE.TO), Yamana Gold (YRI.TO), Baytex Energy (BTE.TO), Suncor Energy (SU.TO) and Air Canada (AC.TO) gained 2 to 5%.

Algonquin Power & Utilities Corp. (AQN.TO) shares plunged more than 19% after the company reported a net loss of $195.2 million or $0.29 per share in the third quarter, sharply wider than $27.9 million or $0.05 per share in the prior-year quarter.

Hut 8 Mining Corp (HUT.TO) drifted down more than 8%. Nutrien (NTR.TO), Dollarama (DOL.TO), Waste Connections (WCN.TO) and Stantec (STN.TO) were among the other prominent losers.

The market breadth was quite strong with as many as 1,170 stocks moving higher. 560 stocks closed weak, while 224 stocks ended unchanged.