TSX Today: What to Watch for in Stocks on Monday, March 18

The TSX Composite benchmark has now been rising for five consecutive weeks.

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The Canadian stock market traded on a mixed note on Friday as recently released hot U.S. wholesale inflation data kept investors on their toes while continued strength in metals prices drove mining stocks higher. The S&P/TSX Composite Index rose 19 points, or 0.1%, in the last session to settle at 21,849.

Despite a rally in the shares of metal mining and healthcare companies, continued losses in other main sectors like technology and consumer cyclical pressured the TSX benchmark. However, the index still closed the week with 0.5% increases, achieving its fifth straight week of gains.

Top TSX Composite movers and active stocks

Shares of NorthWest Healthcare Properties REIT (TSX:NWH.UN) surged by 8.6% to $4.57 per share, making it the top-performing TSX stock for the day. This rally in NorthWest stock came a day after the healthcare sector-focused real estate investment trust (REIT) announced its upbeat fourth-quarter results.

In the quarter ended in December, NorthWest’s revenue from investment properties rose 4.1% year over year to $124 million as it reported a global occupancy rate of 97% and a global rent-collection rate of 99%. Although the REIT’s adjusted quarterly funds from operations slipped 6.3% from a year ago to $0.15 per share, this figure exceeded Bay Street analysts’ expectations of $0.12 per share. On a year-to-date basis, this monthly dividend stock is still down 11.4% and offers an impressive annualized yield of 7.9%.

Lithium Americas, Tilray Brands, and Mattr were also among the top gainers on the Toronto Stock Exchange as they inched up by more than 7% each.

In contrast, BlackBerry, Enghouse Systems, Laurentian Bank of Canada, and TransAlta dived by at least 3.5% each, making them the session’s worst-performing TSX stocks.

Based on their daily trade volume, TC Energy, Canadian Natural Resources, Toronto-Dominion Bank, Enbridge, and Nexgen Energy were the five most active stocks on the exchange.

TSX today

Commodity prices across the board traded on a bullish note early Monday morning, which could lift the resource-heavy main TSX index at the open today.

While no major domestic economic releases are due this morning, stocks may remain volatile as investors await Canada’s consumer inflation report and the U.S. Fed’s interest rate decision scheduled for later this week.

Market movers on the TSX today

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 Enghouse Systems. The Motley Fool recommends Canadian Natural Resources, Enbridge, Laurentian Bank Of Canada, NorthWest Healthcare Properties Real Estate Investment Trust, and Tilray Brands. The Motley Fool has a disclosure policy. Fool contributor Jitendra Parashar has no position in any of the stocks mentioned.

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