By Ketki Saxena
Investing.com — At noon in Toronto, the S&P/TSX Composite Index was at 20,816 points or down -0.93% in the day’s trading, extending losses from yesterday.
The TSX continued to be weighed down by the prospect of aggressive rate hikes from the Bank of Canada and the Federal Reserve, the Russia-Ukraine crisis, and worries of an economic slowdown exacerbated by lockdowns in China.
Sectors
Energy (2.28%) was the only sector in the green as of midday, following a slight increase in oil prices today as markets grapple with supply concerns related to Russia and worries of slowing Chinese demand.
All other TSX sectors were in the red, with key sectors tech (-2.63%), financials (-1.31%) and materials (-0.38%) weighing heaviest on the index. Consumer Discretionary (-2.61%) and healthcare (-2.19%), particularly cannabis companies also led losses on the TSX today.
Stocks
Energy and resources stocks were the biggest gainers on the TSX today as the sectors recovered from yesterday’s sell-off, and ahead of earnings from Canadian energy companies, which kick off this week.
NuVista Energy Ltd . (TSX:NVA) (+8.03%), Parex Resources (TSX:PXT) (+5.06%), Whitecap Resources (TSX:WCP) (+4.40%), PrairieSky Royalty (TSX:PSK) (+4.26%), and MEG Energy Corp (TSX:MEG) (+4.00%) were the biggest gainers so far today.
Hut 8 Mining Corp (TSX:HUT) (-7.23%), Lightspeed Commerce (TSX:LSPD) (-6.00%), Lion Electric Corp (TSX:LEV) (-5.73%), Bombardier Inc (TSX:BBDb) (-5.51%), and Aritzia Inc (TSX:ATZ) (-5.50%) were the biggest losers as of midday.
Notably, Air Canada (TSX:AC) (-5.28% following a larger than expected quarterly loss reported today), and Cenovus Energy (TSX:CVE) (+2.91% ahead of earnings tomorrow) were amongst the most traded stocks on the TSX today.