TSX Ends Moderately Lower After Cautious Session

(RTTNews) - The Canadian stock market ended weak on Tuesday after languishing in negative territory almost right through the day's session, as investors stayed cautious as they looked ahead to the Federal Reserve's policy announcement.

Weak crude oil prices dragged down energy stocks, contributing significantly to market's lower close.

Healthcare and energy stocks were among the most prominent losers. Materials and consumer discretionary stocks were weak as well, while telecom stocks extended gains from previous session. Consumer staples stocks also moved up, while financial and technology stocks were somewhat subdued.

The benchmark S&P/TSX Composite Index ended down 80.74 points or 0.43% at 18,874.01, after sliding to a low of 18,854.65.

Aphria Inc. (APHA.TO) slid more than 9%. Suncor Energy (SU.TO), Air Canada (AC.TO), Cenovus Energy (CVE.TO) and Canadian Natural Resources (CNQ.TO) also declined sharply on huge volumes.

Precision Drilling Corporation (PD.TO) plunged nearly 10%. Maxar Technologies (MAXR.TO), First Quantum Minerals (FM.TO), Canopy Growth Corporation (WEED.TO), Linamar Corporation (LNR.TO), CargoJet (CJT.TO) and Lightspeed Pos (LSPD.TO) also ended sharply lower.

Shaw Communications (SJR.B.TO) ended more than 10% up, extending gains from previous session. Rogers Communications (RCI.B.TO) gained 5.7%.

Kinaxis Inc. (KXS.TO), CNOOC (CSU.TO), Boyd Group Services (BYD.TO), Constellation Software (CSU.TO) and George Weston (WN.TO) were among the other notable gainers.

Data from Statistics Canada said foreign investors bought Canadian securities worth a net C$ 1.27 billion in January 2021, the lowest investment in six months.