Canadian stocks are doing well this year, with the TSX Composite nearing its all-time high. It was trading at C$22,270 on Thursday, a few points below its record high of C$22,581. It has risen by more than 24% from its lowest point in 2023.
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Why the TSX index has rallied
There are three main reasons why Canadian stocks have risen this year. First, this rally is in sync with what is happening globally, where stocks have jumped sharply in 2023.
In the United States, the S&P 500 and Nasdaq 100 indices have all risen to their all-time high. Similarly, in India, the Nifty 50 and BSE Sensex have also soared to their highest points on record.
Other indices that have surged are from Kenya, Japan, South Korea, France, and the United Kingdom. Global stocks have been relatively correlated in the past few…
