TSX Ends Session On Firm Note, Gains 1.4% In Week

(RTTNews) - The Canadian market ended on a firm note on Friday, led by gains in healthcare, communications, energy and consumer staples sectors.

A few stocks from industrials, consumer discretionary and financials sectors too found some support.

The mood in the market was a bit cautious amid a lack of fresh triggers. Investors appeared a bit reluctant to make big moves ahead of the Federal Reserve's monetary policy meeting next week.

The benchmark S&P/TSX Composite Index ended with a gain of 110.64 points or 0.54% at 20,547.51, after scaling a low of 20,479.25 and a high of 20,561.96 intraday. The index gained about 1.4% in the week.

Tilray Inc (TLRY.TO), Chartwell Retirement Residences (CSH.UN.TO) and Sienna Senior Living Inc (SIA.TO) gained 1.3 to 2.3%.

Telus Corp (T.TO) and Quebecor Inc (QBR.B.TO), up 1.9%, and 1.35%, respectively, were the major gainers in the communications sector.

In the energy sector, Imperial Oil (IMO.TO) gained nearly 3%. Crescent Point Energy (CPG.TO), Athabasca Oil Corp (ATH.TO), Vermilion Energy (VET.TO), Baytex Energy (BTE.TO), Cenovus Energy (CVE.TO), Suncor Energy (SU.TO), Enerplus Corp (ERF.TO), MEG Energy (MEG.TO), Precision Drilling Corp (PD.TO) and Canadian Natural Resources (CNQ.TO) gained 1 to 2.5%.

Among consumer staples shares The North West Company (NWC.TO) gained 2.4%. Jamieson Wellness (JSWL.TO) and Metro Inc (MRU.TO) both gained nearly 1.5%.

On the economic front, data from Statistics Canada showed retail sales advanced by 0.2% in May, revised lower from the first estimate of a 0.5% increase. On yearly basis, retail sales increased 0.5% in May over the same month in the previous year.

Another data from Statistics Canada showed new home prices in Canada fell by 0.7% from the previous year in June 2023, extending slightly the 0.6% drop in May.