TSX Snaps 3-day Losing Streak, Ends Marginally Up
(RTTNews) - After three successive days of losses, the Canadian market managed to close marginally higher on Wednesday even as energy stocks fell sharply on weak crude oil prices.
The market opened on a weak note and slipped deeper into the red subsequently, but recovered gradually to snap a three-day losing streak.
The benchmark S&P/TSX Composite Index, which tumbled to 18,847.09 early on in the session, ended with a small gain of 13.89 points or 0.07% at 19,034.81.
Shares from utilities, real estate and technology sectors posted strong gains. There were gains for healthcare, communications and consumer sectors shares too. A few stocks from financials sector moved up as well.
The Energy Capped Index lost 4.07%, as several stocks from the sector posted sharp losses on sustained selling pressure.
Vermilion Energy (VET.TO), Precision Drilling Corp (PD.TO), Paramount Resources (POU.TO), Suncor Energy (SU.TO), Canadian Natural Resources (CNQ.TO) and MEG Energy (MEG.TO) lost 4.5 to 6%.
Utilities shares Brookfield Infra Partners (BIP.UN.TO), Fortis Inc (FTS.TO), Brookfield Renewable (BEP.UN.TO), Capital Power Corp (CPX.TO) and Hydro One (H.TO) gained 2.5 to 4%.
Real estate stock Northwest Healthcare (NWH.UN.TO) climbed more than 8%. Technology stocks Tecsys (TCS.TO), Lightspeed Commerce (LSPD.TO), Docebo Inc (DCBO.TO), Celestica Inc (CLS.TO) and Shopify Inc (SHOP.TO) gained 2.5 to 4%.
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