FX.co ★ Canadian Market Rises Again; Technology Stocks Rally

The Canadian stock market saw a rise just before noon on Tuesday, primarily driven by advancements in the technology and healthcare sectors. There was also a significant increase in stocks from the consumer discretionary, consumer staples, and industrial sectors.

Only a few minutes before noon, the benchmark S&P/TSX Composite Index escalated by 122.44 points or 0.56%, reaching 21,994.40. The Information Technology Capped Index also saw an approximate increase of 2%. Notable growth was presented by Hut 8 Corp and Shopify Inc, both surging by 4.8% and 4.5% respectively. Several other corporations, including Descartes Systems Group, Alithya Group, Bitfarms, Celestica Inc, Tecsys, Enghouse Systems, Lightspeed Commerce, and BlackBerry, saw gains ranging from 1.8% to 3.6%.

Healthcare stock Tilray also boosted by 5.2%, while Sienna Senior Living, Bausch Health Companies, and Chartwell Retirement Residences saw considerable gains as well.

In the broader market, ATS Corporation, Winpak, and Bombardier Inc climbed 3.5 to 4.2%. The SNC-Lavalin Group, now trading as AtkinsRéalis, surged by 3.3% following their announcement of a new contract with the Groupe Heritage Ile-d'Orleans to aid in the development of the Ile d'Orleans Bridge spanning the St. Lawrence River in Quebec.

Other companies that experienced gains between 1% to 2% include TFI International, Onex Corporation, Cargojet, WSP Global and Canadian Tire Corporation.