(RTTNews) - The Canadian stock market remains fairly well placed in positive territory in late afternoon trades on Monday and looks well on course to end the session on a firm note.
The mood remains a bit cautious amid concerns about escalating tensions in Ukraine. Western nations have called for new sanctions on Moscow after Ukraine accused Russia of carrying out a "massacre" in the town of Bucha.
Technology stocks are moving higher, tracking gains in Nasdaq. Several shares from healthcare, energy and consumer sectors are up with strong gains. Materials shares are weak. Financials and industrials shares are turning in a mixed performance.
The benchmark S&P/TSX Composite Index is up 108.55 points or about 0.5% at 22,061.50.
The Information Technology Capped Index is up 2.53%. Lightspeed Commerce (LSPD.TO) is gaining 7% and Magnet Forensics Inc (MAGT.TO) is rising 6.5%. Shopify Inc (SHOP.TO), Tecsys (TCS.TO), BlackBerry (BB.TO) and Kinaxis Inc (KXS.TO) are up 3 to 4%. Constellation Software (CSU.TO) and Absolute Software Corp (ABST.TO) are gaining 2.7% and 2.3%, respectively.
The Healthcare Capped Index is up nearly 1.5%. Canopy Growth Corp (WEED.TO) is up 5.2%, Aurora Cannabis (ACB.TO) is gaining nearly 4% and Well Health Technologies Corp (WELL.TO) is rising 3.5%. Bausch Health Companies (BHC.TO) is advancing 2.6% and Cronos Group (CRON.TO) is up by about 1.2%.
Among the stocks in the Energy Index, MEG Energy (MEG.TO) is up 3.2%. Freehold Royalties (FRU.TO), Vermilion Energy (VET.TO), Baytex Energy (BTE.TO), Crescent Point Energy (CPG.TO), Enerplus Corp (ERF.TO) and Peyto Exploration and Development Corp (PEY.TO) are gaining 2 to 2.5%.
Consumer discretionary stocks Gildan Activewear (GIL.TO), Canada Goose Holdings (GOOS.TO) and Brp Inc (DOO.TO) are up 4%, 3% and 2.6%, respectively. Aritzia Inc (ATZ.TO), Restaurant Brands International (QSR.TO), Linamar Corp (LNR.TO) and Mty Food Group (MTY.TO) are up 1 to 2%.
Data released by Statistics Canada showed the total value of building permits in Canada rose 21% to a record C$ 12.4 billion in February of 2022, rebounding from an upwardly revised 8.2% decline in the previous month.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
