TSX Records New Intraday And Closing Highs

(RTTNews) - Led by strong gains in stocks from across various sectors, the Canadian market recorded fresh intraday and closing highs on Monday.

Continued optimism about growth, and firm commodity prices aided the market's surge.

The benchmark S&P/TSX Composite Index ended with a gain of 100.72 points or 0.47% at 21,556.54 after scaling a new high at 21,585.55.

The Capped Healthcare Index spurted more than 8% as cannabis stocks rallied in reaction to news about Aurora Cannabis Inc. (ACB.TO) making an acquistion, and the developments in the U.S. where a marijuana reform bill is expected to be introduced later this week.

Aurora Cannabis Inc. announced that its subsidiary Aurora Nederland B.V. has entered into an agreement to invest in a significant equity stake in Netherlands-based Growery B.V., one of the few license holders entitled to participate in the Controlled Cannabis Supply Chain Experiment. Aurora Cannabis shares climbed nearly 10.5%.

Cronos Group Inc (CRON.TO) soared nearly 26%, Tilray Inc (TLRY.TO) climbed almost 16% and Canopy Growth Corp (WEED.TO) spurted 11%. Organigram Holdings (OGI.TO) gained nearly 10%. Well Health Technologies (WELL.TO) closed with a gain of 3.55%.

Among telecom stocks, Rogers Communications (RCI.B.TO) gained more than 3%. The company said Sunday that it will not seek an appeal of last week's British Columbia Supreme Court ruling that upheld reconstituted board of Edward Rogers, who is son of the company's founder. The Court on Friday affirmed Edward Rogers's authority to make changes to the board without holding a shareholder meeting.

Lithium Americas Corp (LAC.TO), up 8.25%, was the top gainer in the Materials index. Hudbay Minerals (HBM.TO) climbed 6.75%, while Capstone Mining (CS.TO), Turquoise Hill Resources (TRQ.TO), Ero Copper (ERO.TO) and K92 Mining (KNT.TO) gained 4 to 5.2%.

Among energy shares, Cenovus Energy (CVE.TO), Vermilion Energy (VET.TO), Tourmaline Oil Corp (TOU.TO) and PrairieSky Royalty (PSK.TO) gained 3 to 4.2%. MEG Energy (MEG.TO) gained 2.6% ahead of earnings updates.

In the information technology section, Hut 8 Mining Corp (HUT.TO) surged up more than 9.5%. Nuvei Corp (NVEI.TO) climbed 5.7%, while Kinaxis Inc (KXS.TO), Alithya Group (ALYA.TO) and Descartes Systems (DSG.TO) gained 4 to 4.28%.

Consumer discretionary stock Martinrea International (MRE.TO) jumped nearly 4%. Magna International (MG.TO), Gildan Activewear (GIL.TO), Canada Goose Holdings (GOOS.TO) and Sleep Country Canada Holdings (ZZZ.TO) gained 2 to 2.6%.