Technology Stocks Shine As TSX Rises For 2nd Straight Day

The Canadian market ended on a strong note on Monday, led by gains in technology and healthcare sectors.

Stocks from real estate, consumer discretionary and energy sections too posted impressive gains.

The mood in the market was fairly positive amid rising expectations the central banks, including the Federal Reserve and the Bank of Canada will slow the pace of interest rate hikes thanks to the drop in consumer prices.

The benchmark S&P/TSX Composite Index ended with a gain of 128.37 points or 0.63% at 20,631.58.

The Information Technology Capped Index surged 2.94%. Shopify Inc (SHOP.TO), up 8.77%, was the biggest gainer in the sector. Nuvei Corp (NVEI.TO), Lightspeed Commerce (LSPD.TO) and Quarterhill (QTRH.TO) gained 6.6%, 6.4% and 5.3%, respectively. Hut 8 Mining (HUT.TO), BlackBerry (BB.TO), Coveo Solutions (CVO.TO), Absolute Software (ABST.TO) and Open Text Corp (OTEX.TO) were among the other major gainers.