The Canadian market reached a 14-week low on Wednesday following a tepid trading session, as investors sought direction and remained hesitant to make significant moves.
The absence of U.S. market activity due to the Juneteenth holiday and a lack of major economic data led to a subdued market throughout the day.
The S&P/TSX Composite Index closed down 94.40 points, or 0.44%, at 21,516.90. Despite briefly moving into positive territory during early trading, the index quickly retreated.
All sectoral indices closed in negative territory, with healthcare and industrials suffering the most, declining 1.11% and 0.95% respectively.
Notable decliners included AtkinsRealis Group Inc. (ATRL.TO), CCL Industries (CCL.B.TO), West Fraser Timber (WFG.TO), Canadian National Railway (CNR.TO), Bombardier Inc. (BBD.A.TO), Onex Corporation (ONEX.TO), Fairfax Financial Holdings (FFH.TO), Stantec Inc. (STN.TO), and Canadian Pacific Kansas City (CP.TO), which fell between 1% and 2%.
Conversely, Calian Group (CGY.TO), Goeasy (GSY.TO), Celestica Inc. (CLS.TO), and Molson Coors Canada Inc. (TPX.B.TO) saw gains of 1% to 2%.
