Despite a broader weakness in commodity prices across the board, the Canadian stock market maintained its upward momentum on Friday amid growing hopes of multiple interest rate cuts in 2024. The S&P/TSX Composite Index rose 29 points, or 0.1%, in the final trading session of 2023 to settle at 20,958, extending its quarterly gains to 7.3%.
Even as shares of technology, mining, and healthcare companies remained under pressure, continued buying in other key market sectors like utility, consumer noncyclical, and industrial kept the optimism alive.
With this, the main TSX benchmark managed to end 2023 with strong 8.1% gains after witnessing 8.7% value erosion in the previous year.
Top TSX Composite movers and active stocks
NexGen Energy, Denison Mines, and Cargojet were the top-performing TSX Composite components in the last session, as they inched up by at least 2.4% each.
On the flip side, shares of Tilray Brands and OceanaGold dived…
