TSX Extends Winning Streak, Ends Modestly Higher

(RTTNews) - The Canadian stock market ended modestly higher on Wednesday, despite spending much of the day's session in negative territory.

The benchmark S&P/TSX Composite Index, which fell to 17,215.54 in early trades, recovered gradually to finally end the day with a gain of 38.82 points or 0.22% at 17,313.07.

Encouraging news on coronavirus vaccine and the transition of U.S. President-elect Joe Biden to White House helped keep sentiment positive. However, buying interest was somewhat subdued as investors chose to take some profits at several counters.

Information technology and materials shares had a good outing, while shares from consumer discretionary and energy sections exhibited weakness. Financial stocks recovered from early losses and ended mixed.

Aphria Inc. (APHA.TO), Bombardier Inc. (BBD.B.TO), Kinross Gold Corporation (K.TO) and Enbridge Inc. (ENB.TO) gained 1.4 to 2.5% on strong volumes.

Sierra Wireless (SW.TO) soared more than 28%. Jamieson Wellness (JWEL.TO) spurted 8%, Lightspeed Pos (LSPD.TO) gained 7.1%, Docebo (DCBO.TO) rallied nearly 7% and Cargojet (CJT.TO) advanced 5.4%.

Shopify Inc. (SHOP.TO), Kinaxis Inc. (KX.TO), Franco-Nevada Corporation (FNV.TO) and Brp Inc. (DOO.TO) were among the other big gainers in the session.