On Monday, the Canadian stock market made modest gains despite a slight positive opening and a subsequent northern climb. The gains were largely attributed to strong buying activities across energy, materials, and consumer discretionary sectors.
Market sentiments in the afternoon were cautious due to the anticipation of vital economic data, including U.S. consumer and producer price inflation, along with industrial data.
The S&P/TSX Composite Index, which escalated to 21,145.82, wrapped up the session gaining 57.70 points or a 0.27% increase, finishing at 21,067.30.
Fairfax Financial Holdings saw an almost 5% hike. Energy and consumer discretionary sector shares, Dayforce Inc, Imperial Oil, goeasy, and Linamar Corporation, also made gains between 2 to 3%. Other firms like Colliers International, Restaurant Brands International, Bank of Montreal, Canadian Tire Corporation, and TFI International ended higher by 0.9 to 1.7%.
Canada Goose Holdings experienced a noteworthy surge of more than 8%. Other notable gainers included Hut 8 Corp, Bitfarms, and the Alithya Group Inc, which saw a magnificent leap of nearly 25%.
On the other hand, Aritzia Inc declined by 4.4%. Enghouse Systems, Open Text Corporation, Thomson Reuters, Constellation Software, Shopify Inc, Descartes Systems Group, Waste Connections, and Docebo Inc also saw a decrease in their stocks, ranging between 1.6 to 2.7%.
