TSX Ends Modestly Lower

(RTTNews) - The Canadian stock market ended on a weak note on Tuesday after spending almost the entire session in the red. Weak commodity prices and a lack of positive triggers rendered the mood cautious.

Investors looked ahead to the Federal Reserve's monetary policy announcement, due on Wednesday.

The benchmark S&P/TSX Composite Index ended with a loss of 77 points or 0.36% at 21,170.01.

Healthcare, energy and materials shares declined sharply. Information technology stocks were also mostly weak. Consumer staples and financial shares found some support.

Bausch Health Companies (BHC.TO) plunged more than 9%. Bausch reported net income $188 million for the third quarter, as compared to $71 million for the third quarter of 2020, a favorable change of $117 million. Adjusted net income for the third quarter of 2021 was $417 million, as compared to $469 million for the third quarter of 2020.

Tilray Inc (TLRY.TO) declined 2.85% and Organigram Holdings (OGI.TO) ended down 1.7%.

In the energy section, Suncor Energy (SU.TO), Crescent Point Energy (CPG.TO) and Parex Resources (PXT.TO) shed 3.3%, 2.7% and 2.3%, respectively. Whitecap Resources (WCP.TO), Cenovus Energy (CVE.TO), PrairieSky Royalty (PSK.TO) and Vermilion Energy (VET.TO) also declined sharply.

Materials shares Nutrien (NTR.TO), First Quantum Minerals (FM.TO), K92 Mining (KNT.TO), Stelco Holdings (STLC.TO), Hudbay Minerals (HBM.TO) and Teck Resources (TECK.B.TO) lost 2.5 to 5%.

Air Canada Inc (AC.TO) shares gained nearly 4.5%. The company reported operating loss of $364 million in the third quarter, compared to an operating loss of $785 million in the third quarter of 2020.

Among consumer staples shares, North West Company (NWC.TO), Loblaw (L.TO), Metro Inc (MRU.TO), Jamieson Wellness (JWEL.TO) and Weston George (WN.TO) gained 1.3 to 2.15%.

In the financials section, Royal Bank of Canada (RY.TO), National Bank of Canada (NA.TO) and Bank of Montreal (BMO.TO) gained 0.8 to 1.1%.

In economic news, the value of building permits in Canada increased 4.3% month-over-month to C$ 10.1 billion in September, rebounding from a downwardly revised 2% decrease in the previous month and faster than market expectations of a 3.1% increase.