By Ketki Saxena
Investing.com -- At noon in Toronto, the S&P/TSX Composite Index was at 20.996.98 points, up 1.47% in the day’s trading.
Canada's commodity heavy index was buoyed by energy (+.58%) and materials (2.52%) after strong earnings from resource companies.
Following earning calls this morning, Paramount Resources Ltd . (TSX:POU) (+8.30%) and MEG Energy Corp (TSX:MEG) (+6.78%) were amongst the biggest gainers on the TSX today, lifting the energy sector despite lower oil prices, which the subindex tends to track.
Materials meanwhile was lifted by SSR Mining Inc (TSX:SSRM) (+8.72%), which was the top gaining stock on the TSX today, and Nutrien Ltd (TSX:NTR)(+5.20%). Shares of both companies jumped following earnings calls before the market open today. Materials was also support by the rebound in the price of gold.
All TSX subindexes barring healthcare (-0.84%) were in the green today, as North American equities partially recovered from a sell-off in the days leading up to the Fed’s two-day policy meeting, which kicks off today.
Apart from SSR Mining (NASDAQ:SSRM), Paramount Resources, and MEG, Vermilion Energy Inc . (TSX:VET) (+6.81%) and NuVista Energy Ltd . (TSX:NVA) (+6.80%) were amongst the biggest gainers on the TSX today.
ATS Automation Tooling Systems Inc. (TSX:ATA)(-5.03%), Aurora Cannabis (TSX:ACB) (-3.22%) , Lightspeed Commerce (TSX:LSPD) (-2.71%), Toromont Industries Ltd . (TSX:TIH) (-2.93%) and CAE (TSX:CAE) Inc (-2.06%) were amongst the biggest losers on the TSX as of midday today.