TSX Recovers After Early Setback, Ends Modestly Higher

The Canadian market ended modestly higher on Monday, lifted by gains in technology and real estate stocks.

Healthcare, consumer discretionary and utilities shares were among the other gainers on a day when the mood was a bit cautious with investors awaiting a slew of crucial economic data from Canada and the U.S., and the monetary policy announcement from the Federal Reserve.

The benchmark S&P/TSX Composite Index ended with a gain of 74.78 points or 0.35% at 21,200.06, a new 52-week closing high. The index, which briefly fell into negative territory at the start, recovered and kept edging higher as the session progressed.

The Information Technology Capped Index climbed 1.55%. Coveo Solutions, up 7.5%, was the biggest gainer in the index. Dye & Durham (DND.TO) surged nearly 7%. Bitfarms (BITF.TO), Docebo Inc (DCBO.TO), Lightspeed Commerce (LSPD.TO), Shopify Inc (SHOP.TO), Enghouse Systems (ENGH.TO) and Constellation Software (CSU.TO) gained 1.7 to 2.6%.

Amond real estate stocks, First Capital REIT (FCR.UN.TO) gained nearly 3.5%. FirstService Corp (FSV.TO), Riocan Real Estate (REI.UN.TO), Dream Industrial (DIR.UN.TO) and Altus Group (AIF.TO) climbed 1.6 to 1.76%.

Consumer discretionary stock Restaurant Brands International (QSR.TO) advanced 2.1%. Mty Food Group (MTY.TO), Magna International (MG.TO) and Canada Goose Holdings (GOOS.TO) gained 1.1 to 1.8%.

Healthcare stocks Tilray Inc (TLRY.TO) and Bausch Health Companies Inc (BHC.TO) gained 1.93% and 1.63%, respectively.

Energy stocks drifted lower on weak crude oil prices. MEG Energy Corp (MEG.TO) and Nuvista Energy (NVA.TO) lost 4.7% and 4.28%, respectively. International Petroleum Corp (IPCO.TO) ended 2.9% down, and Advantage Oil & Gas (AAV.TO) ended lower by 2.65%.

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