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TSX Ends On Buoyant Note Again

The Canadian market saw another bright session, as stocks from across various sectors moved higher on Thursday with investors indulging in some strong buying amid rising optimism about earnings and growth.

Data showing a surge in Canadian manufacturing sales, and firm crude oil and bullion prices contributed as well to the positive sentiment in the market.

Data from Statistics Canada showed manufacturing sales in Canada rose 0.5% from a month earlier to C$ 60.3 billion in August of 2021, following a downwardly revised 1.2% decline in July and in line with preliminary estimates.

The benchmark S&P/TSX Composite Index ended with a gain of 201.47 points or 0.98% at 20,819.94, after climbing to a high of 20,840.33. The index, which edged up by 0.1% on Tuesday, gained 0.89% on Wednesday.

The Capped Energy Index climbed about 2.25%. Enerplus Corp (ERF.TO), MEG Energy (MEG.TO), Crescent Point Energy (CPG.TO), Cenovus Energy (CVE.TO), Birchcliff Energy (BIR.TO), Tourmaline Oil Corp (TOU.TO) and Whitecap Resources (WCP.TO) gained 3.5 to 5.3%.

Consumer discretionary stock Artizia Inc. (ATZ.TO) zoomed more than 17%. The company reported adjusted net income of $0.39 per diluted shares for the third quarter of this fiscal, compared to $0.01 per diluted share in the second quarter, and $0.18 share in the third quarter of the previous financial year.

Spin Master Corp (TOY.TO) and Sleep Country Canada Holdings (ZZZ.TO) gained 4% and 3.8%, respectively. Linamar Corp (LNR.TO), Gildan Activewear (GIL.TO) and Brp Inc (DOO.TO) moved up 2.3 to 3%.

In the healthcare section, Well Health Technologies Corp (WELL.TO) is rising 3.75%. Canopy Growth Corp (WEED.TO), Aurora Cannabis (ACB.TO), Cronos Group (CRON.TO) and Bausch Health Companies (BHC.TO) are up 1.3 to 4%.

Several stocks from materials, industrials and information technology sectors posted impressive gains. Telecom and financial stocks too attracted buyers, while utilities, consumer staples and real estate stocks closed mixed after somewhat lackluster session.

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