After four consecutive sessions of record highs, the rally in the Canadian stock market took a breather on Wednesday as investors apparently opted to lock in profits. With a sharp intraday decline in crude oil prices, the S&P/TSX Composite Index slid by 46 points, or 0.2%, from its previous closing to settle at 23,906.
While utility and mining stocks continued to rise, profit-taking in sectors like consumer cyclicals, technology, and energy weighed on the TSX benchmark. Meanwhile, investors also shifted focus to the ongoing Russia-Ukraine and Israel-Hezbollah conflicts, increasing global market uncertainty.
Top TSX Composite movers and active stocks
Magna International, Precision Drilling, Athabasca Oil, and Baytex Energy were the worst-performing TSX stocks for the day, as they slipped by at least 4% each.
On the flip side, Lightspeed Commerce (TSX:LSPD) rallied by 13.3% to $21.15 per share, making it the day’s top-performing…
