Canadian stocks started the new week on a weak note after staging a sharp rally last week, as investors turned cautious before the release of the domestic consumer inflation numbers due Tuesday morning. The S&P/TSX Composite Index dived by 130 points, or 0.6%, on Monday to settle at 20,493, ending its five-day-long winning streak.
While all key market sectors ended the trading session in red, massive losses in healthcare, technology, and energy stocks primarily drove the TSX benchmark downward.
Top TSX Composite movers and active stocks
Tilray Brands, Ballard Power Systems, and Shopify were the worst-performing TSX stocks yesterday, as they tanked by more than 5% each.
Centerra Gold (TSX:CG) was one of the bottom performers on the Toronto Stock Exchange, losing nearly 4.5% of its value for the day to $7.56 per share. This decline in CG stock came after the Toronto-headquartered gold miner announced updates related to its strategic plan with an aim to maximize the value of each asset in its portfolio.
In its latest press release, Centerra also highlighted that it plans to improve the productivity and cost efficiencies of its Mount Milligan Mine after factors, including mine sequencing, affected the production in the first half of 2023. After these declines, CG stock is still up 7.8% on a year-to-date basis.
On the positive side, Seabridge Gold, Dundee Precious Metals, Energy Fuels, and Russel Metals were the top-performing TSX stocks yesterday, as they inched up by at least 2.4% each.
Based on their daily trade volume, TC Energy, Suncor Energy, Canadian Natural Resources, and Manulife Financial were the most heavily traded stocks on the exchange.
TSX today
Commodity prices across the board were sliding early Tuesday morning, pointing to a lower open for the resource-heavy main TSX index today.
Besides monthly building permit data from the United States, Canadian investors will closely monitor August’s consumer inflation data this morning, which could give further direction to stocks.
Market movers on the TSX today
