TSX Today: What to Watch for in Stocks on Friday, December 30

The year-end TSX rally may continue today, as investors continue to evaluate their portfolios and adjust their holdings before 2023.

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tsx today

Canadian stocks made a comeback on Thursday to begin a year-end rally, as commodity prices also bounced back. The S&P/TSX Composite Index inched up by 202 points, or 1%, from its previous closing to settle at 19,486.

Besides gains in commodity-linked stocks, yesterday’s sharp market recovery was mainly led by renewed buying in the healthcare, technology, real estate, and financial sectors. With this, the TSX benchmark now trades with 5.6% quarter-to-date gains but is still down by 8.2% on a year-to-date basis.

Top TSX movers and active stocks

Lightspeed Commerce (TSX:LSPD) popped by 12.2% to $ 19.46 per share, making it the top-performing TSX Composite component for the day. While there was no apparent company-specific news, a tech sector-wide intraday rally and investors’ hopes that high-growth stocks could witness a recovery in 2023 could be the main reason leading to renewed buying in LSPD stock yesterday. Despite these sharp gains, however, Lightspeed continues to be among the worst-performing tech stocks of 2022, with its 62% year-to-date losses.

Other tech stocks like Shopify, Dye & Durham, and Nuvei were also among the top performers on the Toronto Stock Exchange in the last session, as they inched up by more than 5% each.

On the flip side, MAG Silver and Uni-Select slipped by at least 2% each, making them the worst-performing Canadian stocks for the day.

Based on their daily trade volume, TC Energy, Bank of Nova Scotia, Toronto-Dominion Bank, and Barrick Gold were the most active stocks on the exchange.

TSX today

Early Friday morning, commodity prices across the board were trading on a slightly bullish note, pointing to a higher open for the resource-heavy TSX index today.

While no economic releases are due, stocks could continue to extend the year-end rally on the last trading session of 2022, as investors remain focused on evaluating their portfolios and adjusting their holdings before 2023.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

The Motley Fool has positions in and recommends Nuvei and Shopify. The Motley Fool recommends Bank Of Nova Scotia and Lightspeed Commerce. The Motley Fool has a disclosure policy. Fool contributor Jitendra Parashar has no position in any of the stocks mentioned.

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