Despite uncertainty about U.S. tariffs, Canadian stocks staged a recovery on the final day of March as easing bond yields and rising crude oil and gold prices helped lift investor sentiment. The S&P/TSX Composite Index climbed 158 points, or 0.6%, on Monday to close at 24,918 — recouping a large portion of last week’s losses.
Nearly all key sectors, except technology, ended the session in the green, but the market rally was mainly driven by solid gains in consumer, industrial, and financial stocks. However, this rally couldn’t help the TSX end March in positive territory, as the index still posted a monthly decline of 1.9%, marking its second straight monthly loss.
Top TSX Composite movers and active stocks
Restaurant Brands International, Torex Gold Resources, North West Company, and K92 Mining were the top-performing TSX stocks for the day, with each inching up by at least 3.5%.
On the flip side, SSR Mining (TSX:SSRM) dived by 7.4% to $14.42 per share, making it the day’s worst-performing TSX stock. Despite the ongoing record rally in gold prices, this selloff in SSRM stock came after the precious metals mining firm released its 2025 operating guidance.
For the year, SSR Mining forecasts gold equivalent production of 410,000 to 480,000 ounces, excluding potential output from the suspended Çöpler mine. The increase reflects over 10% year-over-year growth, largely driven by its recent Cripple Creek & Victor acquisition. However, investors reacted negatively to this news as the company highlighted cost pressures and higher operating costs across the portfolio. On a year-to-date basis, SSRM stock is still up 44% and offers a 2.7% annualized dividend yield.
Ivanhoe Mines, Algoma Steel, and Capstone Copper were also among the bottom performers on the Toronto Stock Exchange, after falling by more than 4% each.
Based on their daily trade volume, TC Energy, Bank of Nova Scotia, TD Bank, Canadian Natural Resources, and Manulife Financial were the five most active stocks on the exchange.
TSX today
Oil and gold prices continued to trade positively in early trading on Tuesday, but most other commodity prices remained negative amid lingering global growth concerns. This divergence could lead to a muted open for the resource-heavy TSX today.
While no major domestic economic releases are due, Canadian investors may want to keep an eye on the latest U.S. manufacturing and job openings data this morning. More importantly, investor attention will remain focused on any updates related to trade policy as we come close to the implementation date for new U.S. tariffs.
On the corporate events side, the TSX-listed NovaGold Resources will announce its latest quarterly results today, which will keep its stock in the spotlight.
Market movers on the TSX today
