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TSX Snaps 4-day Winning Streak, Ends Notably Lower
(RTTNews) - The Canadian market closed notably lower on Monday, weighed down by losses in materials, energy and financials sections.
Several stocks from real estate, utilities and healthcare sectors too closed sharply lower.
The mood was quite bearish in the market due to concerns about the growing unrest in China amid widespread protests against the government's zero-Covid policy.
Worries about inflation and outlook for interest rates hurt as well.
The benchmark S&P/TSX Composite Index ended with a loss of 163.28 points or 0.8% at 20,220.49. The index dropped to a low of 20,178.80 in the session.
Tecsys Inc. (TCS.TO) ended 6.7% down. Precision Drilling Corporation (PD.TO), Sprott Inc (SII.TO), Cargojet (CJT.TO), goeasy (GSY.TO) and Descartes Systems Group (DSG.TO) lost 3 to 4.2%.
Onex Corporation (ONEX.TO), Franco-Nevada Corp (FNV.TO), Tourmaline Oil Corp (TOU.TO) and National Bank of Canada (NA.TO) ended lower by 2 to 2.8%.
Bombardier Inc (BBD.B.TO) rallied 7%. Shopify Inc (SHOP.TO) climbed 4.3%. Loblaw Companies (L.TO), CCL Industries (CCL.A.TO), Dollarama Inc (DOL.TO), Fairfax Financial Holdings (FFH.TO) and Alimentation Couche-Tard (ATD.TO) gained 1.8 to 3%.
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