Canadian Market Up In Positive Territory In Cautious Trade

(RTTNews) - After a flat start and a subsequent uptick, the Canadian market remains positive a little before noon on Friday with shares from utilities, healthcare, industrials and real estate sectors holding firm on sustained buying interest.

Materials, energy and technology stocks are a bit subdued, while shares from financials, consumer and communications sectors are turning in a mixed performance.

Optimism about the Federal Reserve slowing its pace of interest rate hikes from as early as December appears to be aiding sentiment. Concerns about a surge in Covid cases in China and slowing global growth are capping market's upside.

The benchmark S&P/TSX Composite Index is up 88.60 points or 0.44% at 20,432.67 about a quarter before noon.

Emera Incorporated (EMA.TO), up 2.3%, is the most prominent gainer in the Utilties section. Altagas (ALA.TO), Capital Power Corp (CPX.TO), Innergex Renewable Energy (INE.TO), Fortis (FTS.TO), Atco (ACO.X.TO) and Algonquin Power & Utilities Corp (AQN.TO) are gaining 1.2 to 1.7%.

Canopy Growth Corp (WEED.TO), up 5.5%, is the top gainer in the Healthcare Index. Bausch Health Companies (BHC.TO) is rising 2% and Tilray Inc (TLRY.TO) is advancing 1.5%.

Allied Properties Real Estate (AP.UN.TO), Dream Industrial (DIR.UN.TO), Tricon Capital Group (TCN.TO) and Smartcentres Real Estate (SRU.UN.TO), gaining between 1.5 to 2%, are the major gainers in the real estate sector.

Among industrials shares, Ats Automation (ATA.TO) is rising 4%. Canadian Pacific Railway (CP.TO), Canadian National Railway (CNR.TO), Richelieu Hardware (RCH.TO) and Westshore Terminals Investment Corp (WTE.TO) are up 1 to 1.8%.