The Canadian equities market turned slightly negative Thursday as an intraday correction in crude oil prices pressurized energy stocks. The S&P/TSX Composite Index ended the day with a minor 0.2%, or 50-point, drop at 21,295. While the shares of most real estate, healthcare, and mining companies traded positively, industrials and energy sectors dragged the index down.
Top TSX movers and active stocks Lion Electric and Ballard Power Systems (TSX:BLDP) were the two top-performing stocks on the TSX Composite in the last session, as they rose by 5.4% each.
Some recently beaten-down tech stocks like Lightspeed Commerce (TSX:TSX:LSPD)(NYSE:LSPD) and Nuvei (TSX:NVEI) also staged a good recovery, as they rose by at least 3% each. Despite yesterday’s gains, Lightspeed stock is set to end its fourth consecutive month in the negative territory. On September 29, a short-seller severely criticized Lightspeed’s business practices in its latest report, also raising questions about its recent financial trends. This report is the key reason why LSPD stock has faced consistent selling pressure in the last few months. On a year-to-date basis, the stock has lost more than 40%.
On the flip side, Energy Fuels, Labrador Iron Ore Royalty, ARC Resources, and Birchcliff Energy were the worst performers on the main Canadian market index on December 30, as they dived by at least 4% each.
TC Energy (TSX:TRP) and Bank of Nova Scotia were the two most active stocks on the exchange, with their daily trade volume soaring past 10 million shares each.
TSX today An overnight rally in precious and base metals prices points towards a higher opening on the TSX today in spite of mixed oil prices. Despite largely remaining directionless this week, the Canadian stocks market is set to end December as well as the year 2021 on a solid note. The TSX Composite Index has risen by more than 3% this month, extending its year-to-date gains to more than 22%.
The post TSX Today: What to Watch for in Stocks on Friday, December 31 appeared first on The Motley Fool Canada.
The Motley Fool owns and recommends Nuvei Corporation. The Motley Fool recommends BANK OF NOVA SCOTIA and Lightspeed Commerce. Fool contributor Jitendra Parashar has no position in any of the stocks mentioned.