FX.co ★ TSX Rises For 4th Straight Day, Records New Closing High

The Canadian market extended its gains into a fourth consecutive session on Monday, setting new record highs driven by strong performances in the healthcare, technology, and energy sectors.

The consumer discretionary, financials, and industrials sectors also recorded notable gains.

After a modestly higher opening followed by tight range trading until midday, the market gradually strengthened, closing on a firm note.

Investors are anticipating the Federal Reserve's upcoming monetary policy announcement, alongside data on Canadian inflation.

The benchmark S&P/TSX Composite Index closed up by 133.42 points, or 0.57%, at a new record of 23,702.07. The index also reached a new intraday high of 23,721.61.

Economic data from Statistics Canada revealed that Canadian manufacturing sales rose by 1.4% month-over-month to $71.0 billion in July, exceeding the previous estimate of 1.1% and recovering from a revised 1.7% decline in the prior month.

Additionally, car registrations in Canada increased to 168,791 units in July, up from 166,120 units in June, as reported by Statistics Canada.

Bausch + Lomb Corporation (BLCO.TO) saw its shares surge nearly 14%.

Stantec (STN.TO), Molson Coors Canada Inc. (TPX.B.TO), Dollarama Inc. (DOL.TO), Brookfield Wealth Solutions (BNT.TO), Bombardier (BBD.A.TO), Fairfax Financial Holdings (FFH.TO), Constellation Software (CSU.TO), Shopify Inc. (SHOP.TO), Descartes Systems Group (DSG.TO), West Fraser Timber (WFG.TO), and Canadian National Railway (CNR.TO) all gained between 1.5% and 2.5%.

Bank of Montreal (BMO.TO), Toromont Industries (TIH.TO), and TFI International (TFII.TO) also posted robust gains.

Conversely, Softchoice Corporation (SFTC.TO) fell by 5.6%, BRP Inc. (DOO.TO) closed down approximately 3.4%, and Ero Copper (ERO.TO), BCE Inc. (BCE.TO), and Tecsys Inc. (TCS.TO) ended lower by 2.8% to 3%.