By Ketki Saxena
Investing.com -- At noon in Toronto, the S&P/TSX Composite Index was at 20,279.32 points, up +0.89% in the day’s trading. Canada's benchmark index bounced back from sell-offs yesterday, supported by dip buyers, broad-based gains in commodities, and a rebound in tech.
All TSX sectors barring Industrials (-0.14%), Telecom (-0.42%), and Utilities (-0.10%) were in the green today
The commodity heavy index was buoyed by Materials (+3.97%) and Energy (+1.14%). Materials tracked the price of gold, which saw a rebound in demand as alternative safe havens U.S. dollar dropped and treasury yield retreated.
Energy meanwhile tracked the price of crude, which retraced losses earlier in the day to trade + higher so far today after a planned easing of lockdowns in Shanghai that moderated concerns of demand related to a slowing global outlook.
Heavyweight tech also helped lift the index after gains driven by Shopify (TSX:SHOP) (+13.49%) and Lightspeed (TSX:LSPD) (+11.76%), amongst the top performers on the TSX today.
Shopify gained following news of an integration with crypto.com, allowing merchants to accept cryptocurrency payments in over 20 tokens including Bitcoin, Ethereum, Shiba Inu and Dogecoin.
Lightspeed was supported by earnings and revenue in line with analyst estimates, and positive forward guidance as the company recovers from retail shutdowns that severely impacted its business.
Apart from Shopify and Lightspeed, ATS Automation Tooling Systems Inc. (TSX:ATA) (+12.00%), Fortuna Silver (TSX:FVI) (+9.85%), and IAMGold Corporation (TSX:IMG) (+8.99%) were the biggest gainers on the TSX today.
The biggest losers on the TSX today included BRP Inc (TSX:DOO) (-4.15%), Cascades (TSX:CAS) Inc (-2.86%), Primo Water (TSX:PRMW) (-2.84%), Celestica Inc. (TSX:CLS) (-2.45%), and Keyera Corp (TSX:KEY) (-2.08%).