TSX Rallies After Volatile Spell, Ends Session Nearly 1% Up

(RTTNews) - After swinging between gains and losses till around mid afternoon, the Canadian stock market rallied on Friday to close on a strong note.

Technology and healthcare stocks posted handsome gains, contributing substantially to market's upmove. Several stocks from telecom, real estate, industrials and consumer sectors too posted impressive gains.

The benchmark S&P/TSX Composite Index, which dropped to a low of 20,411.76 after opening at 20,549.42, ended the day with a gain of 197.64 points or 0.96% at 20,741.75, the day's high.

The index gained a modest 0.6% in the week.

The Capped Information Technology Index climbed 4.29%. Hut 8 Mining Corp (HUT.TO), Celestica Inc (CLS.TO), Kinaxis Inc (KXS.TO) and Shopify Inc (SHOP.TO) gained 7 to 8%. Converge Technology Solutions (CTS.TO), Lightspeed Commerce (LSPD.TO), Tecsys Inc (TCS.TO), Descartes Systems (DSG.TO), Nuvei Corp (NVEI.TO) and BlackBerry (BB.TO) gained 4.7 to 6.8%.

Among the stocks in the Healthcare index, Canopy Growth Corp (WEED.TO) gained 6.3%, Tilray Inc (TLRY.TO) surged up 5% and Cronos Group (CRON.TO) climbed 4.8%. Aurora Cannabis (ACB.TO), Bausch Health Companies (BHC.TO) and Sienna Senior Living (SIA.TO) ended stronger by 4%, 3.75% and 2.3%, respectively.

Materials shares Capstone Mining Corp (CS.TO), Turquoise Hill Resources (TRQ.TO), Teck Resources (TECK.B.TO) and Ero Copper (ERO.TO), which eased by 3 to 4.2%, were among the prominent losers in the session.

Canadian Pacific Railway (CP.TO), Magna International (MG.TO) and Newmont Corporation (NGT.TO) also ended notably lower.