The Canadian market closed on a high note on Friday, buoyed by an uptick in utilities, financials, energy, and communications sectors.
Despite most stocks largely fluctuating within a narrow band, there was a sense of cautiousness in the air. This resulted from a lack of market stimuli and apprehensions about geopolitical tensions, alongside uncertainty surrounding the Federal Reserve's future interest rate path.
The benchmark S&P/TSX Composite Index concluded the day with a net gain of 98.93 points or a 0.46% increase, settling at 21,807.37 points. Trading within the day saw the index oscillating between a low of 21,679.80 and a high of 21,871.49. Overall, however, the index recorded a modest decline of about 0.4% over the week.
Several stocks posted significant gains. Canadian Tire Corporation experienced a sharp 9% rise. Wajax Corporation progressed by 4.1%, while Brookfield Infrastructure Partners, Brookfield Infrastructure Corporation, and Enbridge Inc showed growth ranging from 2.7 to 3.1%.
Other stocks like Brp Inc, EQB Inc, Premium Brands Holdings Corporation, Imperial Oil, and Bank of Montreal also ended the day with considerable gains.
However, some stocks didn't fare as well. Celestica Inc plunged by 7.1%, and Dayforce, Altus Group, Kinaxis Inc, and Constellation Software were among the biggest decliners for the day.
