Canadian Market Down Marginally In Cautious Trade

The Canadian market is down marginally a little past noon on Tuesday after recovering from lower levels. The mood is cautious and investors are largely refraining from making significant moves as they await the Bank of Canada's interest rate decision, due on Wednesday.

The central bank is widely expected to raise interest rate by 25 basis points.

The benchmark S&P/TSX Composite Index, which dropped to a low of 20,502.36, is down 31.31 points or 0.16% at 20,600.27 about half an hour past noon.

Consumer staples and communications stocks are among the prominent gainers, while consumer discretionary and energy stocks are weak. Shares from rest of the sectors are turning in a mixed performance.