On Thursday, following a slight dip at the opening, the Canadian market continued its decline, driven by persistent selling in the materials, consumer discretionary, and technology sectors.
The benchmark S&P/TSX Composite Index closed down 124.41 points, or 0.54%, at 22,726.76.
Hut 8 Corp (HUT.TO) saw a significant drop of nearly 8%. Teck Resources (TECK.B.TO) and Dayforce (DAY.TO) also experienced substantial losses, closing down by 4.8% and 4.3%, respectively.
Other notable declines included Restaurant Brands International (QSR.TO), goeasy (GSY.TO), Onex Corporation (ONEX.TO), West Fraser Timber (WFG.TO), Methanex Corporation (MX.TO), and Shopify Inc (SHOP.TO), which fell between 2.4% and 3.1%.
Precision Drilling Corporation (PD.TO), Cargojet (CJT.TO), Descartes Systems Group (DSG.TO), Dollarama Inc (DOL.TO), and Canadian National Railway (CNR.TO) posted losses ranging from 1% to 2%.
On a positive note, Tenaz Energy Corp (TNZ.TO) surged 56.4% after announcing its agreement to acquire all issued and outstanding shares of NAM Offshore B.V. for $180.33 million.
Quebecor Inc (QBR.TO) saw a notable rise, appreciating by 5.8%. Sleep Country Canada Holdings (ZZZ.TO), Tecsys Inc (TCS.TO), and Hydro One (H.TO) also saw gains of 2.8%, 2.5%, and 2.3%, respectively.
Additionally, Cogeco Communications (CCA.TO), AtkinsRealis Group (ATRL.TO), Tourmaline Oil Corp (TOU.TO), Fairfax Financial Holdings (FFH.TO), Fortis Inc (FTS.TO), Alimentation Couche-Tard (ATD.TO), and Stelco Holdings (STLC.TO) recorded gains between 1% and 1.7%.
