The Canadian stock market ended with modest gains on Wednesday following a restrained trading session. Investors remained on edge as they awaited the quarterly results from the major U.S. tech company NVIDIA, expected after the market closed, along with significant economic data anticipated later in the week.
Persistent concerns regarding the intensifying conflict between Ukraine and Russia, combined with the unpredictability surrounding the Federal Reserve's interest rate strategies, contributed to the market's cautious sentiment.
The primary index, the S&P/TSX Composite Index, experienced a slight rise, closing up by 25.69 points, or 0.1%, at 25,036.46. However, it did not reach the day's peak and dipped to a low of 24,909.72 just before midday.
Among notable movers, Tenaz Energy (TNZ.TO) surged approximately 5.5%, with Tourmaline Oil Corp (TOU.TO) advancing by 4.5% and Precision Drilling Corporation (PD.TO) gaining close to 4%. Companies like Keyera Corp (KEY.TO), K-Bro Linen (KBL.TO), CCL Industries (CCL.B.TO), Calian Group (CGY.TO), and Brookfield Renewable Corporation (BEPC.TO) saw their stocks climb between 2% and 3%.
George Weston (WN.TO), Bombardier Inc (BBD.B.TO), Dayforce (DAY.TO), Senvest Capital (SEC.TO), Constellation Software (CSU.TO), Canadian Western Group (CWB.TO), Fairfax Financial Holdings (FFH.TO), Altus Group (AIF.TO), and Stantec (STN.TO) also recorded significant upward movements.
In contrast, Silvercorp Metals (SVM.TO) plummeted by 12%, while Endeavour Silver Corp (EDR.TO) fell by 8.8%. Other declines included Aya Gold & Silver (AYA.TO), Hut 8 Corp (HUT.TO), Dollarama Inc (DOL.TO), Morguard Corporation (MRC.TO), Stella-Jones (SJ.TO), Aritzia Inc (ATZ.TO), BRP Inc (DOO.TO), and Ag Growth International (AFN.TO), which decreased between 1.4% and 4%.
