Canadian Stocks Close Mostly Higher As Strength Emerges In Tech Sector

(RTTNews) - Canadian stocks fluctuated early in the session on Monday but moved mostly higher over the course of the trading day.

After briefly dipping below the unchanged line in early trading, the benchmark S&P/TSX Composite Index climbed 96.10 points or 0.5 percent to 19,545.91.

The S&P/TSX Composite Index added to the gain posted last Friday, reaching its best closing level since mid-September.

Bay Street seemed to benefit from strength that emerged among tech stocks, with the S&P/TSX Capped Information Technology Index jumping by 1.3 percent.

Real estate stocks also turned in a particularly strong performance on the day, resulting in a 3.3 percent spike by the S&P/TSX Capped Real Estate Index.

Meanwhile, energy stocks closed modestly higher but gave back ground after leading the markets higher earlier in the day, with a downturn by the price of crude oil weighing on the sector.

Trading activity appeared somewhat subdued, however, as traders look ahead to the U.S. midterm elections on Tuesday and the release of consumer price inflation data on Thursday.

The midterm elections will determine whether Democrats maintain control of Congress, while the inflation data could impact the outlook for interest rates.