Canadian Market Up Firmly In Positive Territory At Noon

(RTTNews) - The Canadian market is up firmly in positive territory a little past noon on Tuesday, led by strong gains in technology, healthcare and consumer discretionary sectors.

Several stocks from real estate and energy sections are also up with impressive gains.

The benchmark S&P/TSX Composite Index is up 122.33 points or 0.62% at 20,044.14 a few minutes past noon.

The Information Technology Capped Index is up 3.4%. Evertz Technologies (ET.TO), Shopify Inc (SHOP.TO), Kinaxis Inc (KXS.TO), Absolute Software Corp (ABST.TO), BlackBerry (BB.TO), Payfare Inc (PAY.TO), Tecsys Inc (TCS.TO), Lightspeed Commerce (LSPD.TO), Converge Technology Solutions (CTS.TO), Descartes Systems Group (DST.TO) and Softchoice Corp (SFTC.TO) are gainind 3 to 6%.

The Health Care Capped Index is gaining 2.3%. Cronos Group (CRON.TO), up 4.5%, is the top gainer in the index. Tilray Inc (TLRY.TO) is gaining 3.6%, while Chartwell Retirement Residences (CSH.UN.TO), Sienna Senior Living Inc (SIA.TO), Bellus Health Inc (BLU.TO) and Bausch Health Companies (BHC.TO) are up 1 to 1.6%.

The Consumer Discretionary Capped Index is up 1.5%. Linamar Corp (LNR.TO) is climbing 5.2% and Canadian Tire Corp (CTC.A.TO) is gaining nearly 4%. Magna International (MG.TO) and Canada Goose Holdings (GOOS.TO) both are up 3.3%. Sleep Country Canada Holdings (ZZZ.TO), Gildan Activewear (GIL.TO) and Mty Food Group Inc (MTY.TO) are up 1 to 2%.

On the economic front, data from Statistics Canada showed car registrations in Canada inreased to 138,365 units in September from 136,972 units in August.

Another data from the same bureau showed total manufacturing sales in Canada were unchanged in September from the previous month with a preliminary reading of a 0.5 percent drop and on the heels of a revised 1.9 percent decline in August.

Meanwhile, wholesale sales in Canada rose by 0.1% from a month earlier to C$81.8 billion in September of 2022.