TSX Ends On Firm Note

(RTTNews) - The Canadian market ended on a firm note on Tuesday, gaining most of the ground it lost in the previous session.

The mood was quite positive amid easing geopolitical concerns following news Russia is pulling back some troops from the Ukrainian border.

Russian Defense Ministry spokesman Igor Konashenkov said units from Russia's southern and western military districts, which border Ukraine, have already begun returning to their bases after completing combat training.

Russian Defense Ministry spokesman Igor Konashenkov said units from Russia's southern and western military districts, which border Ukraine, have already begun returning to their bases after completing combat training.

The benchmark S&P/TSX Composite Index ended with a gain of 150.04 points or 0.7% at 21,502.55, slightly off the day's high of 21,510.64.

Healthcare, consumer discretionary, technology and industrials shares posted strong gains. Energy and materials shares started off on a weak note, but regained most of the lost ground as the day progressed, and several stocks from these two sectors even moved higher and posted notable gains.

The Capped Healthcare Index climbed 3.54%. Aurora Cannabis (ACB.TO) and Tilray Inc (TLRY.TO) ended stronger by 7.6% and 6.1%, respectively. Cronos Group (CRON.TO) gained 4.5%, while Canopy Growth Corp (WEED.TO), Bausch Health Companies (BHC.TO) and Well Health Technologies (WELL.TO) gained 3 to 3.5%.

The Consumer Discretionary Index surged up 2.3%. Canada Goose Holdings (GOOS.TO) moved up nearly 6.5% and Magna International (MG.TO) ended almost 4% up.

Restaurant Brands International (QSR.TO) gained 3.75%. The company reported net income $1,249 million for the year 2021 compared to $748 million in prior year.

The Capped Information Technology Index gained 1.82%. Lightspeed Commerce (LSPD.TO), up 10.4%, was the top gainer in the section. Hut 8 Mining (HUT.TO) climbed 7.2%, while Shopify Inc (SHOP.TO), BlackBerry (BB.TO), Celestica Inc (CLS.TO), Sierra Wireless (SW.TO), Nuvei Corp (NVEI.TO), Dye & Durham (DND.TO) and Converge Technology Solutions (CTS.TO) gained 3 to 5%.

The Capped Industrials Index advanced 1.82%. Ballard Power Systems (BLDP.TO) soared nearly 11%. Cae Inc (CAE.TO) ended nearly 7% up, while Lion Electric (LEV.TO) and Air Canada (AC.TO) both ended higher by over 5%. Bombardier Inc (BBD.B.TO) and SNC-Lavalin (SNC.TO) gained 3.1% and 2.9%, respectively.

Data released by Statistics Canada showed car registrations in Canada decreased to 103,694 units in December of 2021 from 117,378 units a month earlier.