TSX Ends Marginally Down

(RTTNews) - The Canadian market ended weak on Monday, hurt by losses in communications, energy and utilities sectors. Healthcare stocks found support, while shares from rest of the sectors ended mixed.

The benchmark S&P/TSX Composite Index ended with a loss of 35.28 points or 0.17% at 20,226.79 after moving in a tight band between 20,192.59 and 20,256.79.

Communications stock Cogeco Communications (CCA.TO) climbed 3.1%. BCE Inc (BCE.TO), Rogers Communications (RCI.B.TO) and Telus Corp (T.TO) lost 1.5 to 1.7%.

In the energy section, Parex Resources (PXT.TO) ended 7.6% down after the company announced that it has abandoned one of its wells at a Colombia project after tests confirmed no economic hydrocarbons at the site.

Cenovus Energy (CVE.TO), MEG Energy (MEG.TO), Baytex Energy (BTE.TO), Paramount Resources (POU.TO) and Canadian Natural Resources (CNQ.TO) ended down 1.6 to 2.4%.

In the Utilities sector, Innergex Renewable Energy (INE.TO), Fortis (FTS.TO), Atco (ACO.X.TO), Brookfield Infra Partners (BIP.UN.TO) and Canadian Utilities (CU.TO) lost 1 to 1.6%.

Among the stocks in the Health Care Capped Index, Bausch Health Companies (BHC.TO) soared nearly 10%. Chartwell Retirement Residences (CSH.UN.TO) and Tilray Inc (TLRY.TO) climbed 2.37% and 1.82%, respectively.

On the economic front, wholesale sales in Canada rose 3.5% month-over-month in May 2023, after a 1.4% drop in April, final data from Statistics Canada showed.

A separate data from Statistics Canada showed car registrations in Canada increased to 165,568 Units in May from 148,815 Units in April of 2023.