FX.co ★ TSX Ends Modestly Higher; Technology, Resources Stocks Move Up

The Canadian market recorded a modest uptick on Monday, bolstered by advancements in technology, energy, and materials shares. The overall sentiment remained cautious as investors awaited the Federal Reserve's impending monetary policy announcement and U.S. consumer price inflation data.

The benchmark S&P/TSX Composite Index increased by 62.76 points, or 0.29%, to close at 22,069.76. The index fluctuated within a tight band, hitting a low of 21,953.44 and a high of 22,105.69.

Technology stocks saw significant gains. Copperleaf Technologies (CPLF.TO) surged by 7.1%, while Celestica Inc (CLS.TO) rose by 4.4%. Other notable tech performers included Coveo Solutions (CVO.TO), Shopify Inc (SHOP.TO), Lightspeed Commerce (LSPD.TO), Alithya Group (ALYA.TO), and Open Text Corporation (OTEX.TO), all of which advanced by 2 to 3%.

Energy sector stocks also performed well. Birchcliff Energy (BIR.TO), Paramount Resources (POU.TO), Precision Drilling Corp (PD.TO), and Tamarack Valley Energy (TVE.TO) all gained between 2.5% and 4%. Other strong performers in the sector included Baytex Energy (BTE.TO), Whitecap Resources (WCP.TO), Vermilion Energy (VET.TO), Athabasca Oil Corp (ATH.TO), Headwater Exploration (HWX.TO), Nuvista Energy (NU.TO), Cenovus Energy (CVE.TO), Prairiesky Royalty (PSK.TO), and Kelt Exploration (KEL.TO).

In the materials sector, Ero Copper (ERO.TO) saw a significant increase of 5.3%. Interfor Corp (IFP.TO) also climbed approximately 3.4%. Additional gains of 2 to 3% were observed among Silvercrest Metals (SIL.TO), B2Gold Corp (BTO.TO), SSR Mining (SSRM.TO), Filo Mining (FIL.TO), Equinox Gold Corp (EQX.TO), Wheaton Precious Metals (WPM.TO), and Agnico Eagle Mines (AEM.TO).

Conversely, the communications sector experienced losses. Telus Corp (T.TO) and Rogers Communications (RCI.B.TO) fell by 2.5% and 1.6%, respectively.

The consumer staples sector also faced declines. Alimentation Couche-Tard (ATD.TO) dropped by 2.75%, while Saputo Inc (SAP.TO) and Metro Inc (MRU.TO) both concluded the day lower by approximately 1.1%.