TSX Posts Record Closing High; Energy, Materials Stocks Move Up Sharply

(RTTNews) - The Canadian market closed on a buoyant note on Thursday, extending gains from the previous session, as a surge in commodity prices triggered hectic buying in energy and materials shares.

The benchmark S&P/TSX Composite Index ended with a gain of 302.39 points or 1.41% at 21,771.22, a record closing high, and just a few points off its all-time intra-day high of 21,784.69.

The mood was so bullish that buying was quite widespread. All the sectoral indices ended in green. The Energy Capped Index surged up nearly 3.5%. The Materials Capped Index climbed 1.95% and the Consumer Discretionary Index advanced 1.86%.

Several stocks from healthcare, real estate, industrials and financials sectors too closed with impressive gains. Select technology and communications stocks moved up sharply.

Lightspeed Commerce (LSPD.TO) soared nearly 16% on strong volumes. Cameco Corporation (CCO.TO) surged up 8.75% and Maxar Technologies (MAXR.TO) gained 7%.

Methanex Corporation (MX.TO), Nuvei Corporation (NVEI.TO), Shopify Inc (SHOP.TO), Sprott Inc (SII.TO), Nutrien (NTR.TO), Canadian Natural Resources (CNQ.TO) and Cargojet (CJT.TO) gained 3.5 to 6%.

Kinaxis Inc (KXS.TO), Canadian Tire Corporation (CTC.A.TO), Thomson Reuters (TRI.TO), West Fraser Timber (WFG.TO) and Constellation Software (CSU.TO) ended higher by 1.6 to 2.5%.

AutoCanada (AC.TO), Premium Brands International (PBH>TO), Descartes Systems Group (DSG.TO) and goeasy (GSY.TO) were among the notable losers.