TSX Ends Final Session Of 2024 On Firm Note, Posts Yearly Gain Of 18%

(RTTNews) - The Canadian market ended on a firm note on Tuesday, the final session of 2024, as energy and materials stocks moved higher on firm commodity prices. Shares from real estate and communications sectors were the other notable gainers in the session.

Amid a lack of economic data and corporate news, trading volumes were thin and movements were a bit lackluster for much of the day's trading session.

The benchmark S&P/TSX Composite Index, which climbed to 24,767.80, settled with a gain of 107.35 points or 0.44% at 24,727.94. The index gained about 18% in the year, scaling a a record high of 25,843.20 in the process.

Energy stocks Parex Resources (PXT.TO) and Baytex Energy (BTE.TO) climbed 6.7% and 5.1%, respectively. Vermilion Energy (VET.TO) gained 4.1%, while Athabasca Oil (ATH.TO), Mattr Corp (MATR.TO), Kelt Exploration (KEL.TO), International Petroleum Corp (IPCO.TO), Precision Drilling Corp (PD.TO), MEG Enegy (MEG.TO) and Veren Inc (VRN.TO) advanced 3 to 3.5%.

Interfor Corp (IFP.TO), up 3.1%, was the top gainer in the Materials Index. Novagold (NG.TO), Centerra Gold (CG.TO), K92 Mining (KNT.TO), Calibre Mining (CXB.TO), Torex Gold Resources (TXG.TO), Alamos Gold (AGI.TO), Iamgold Corp (IMG.TO), Fortuna Silver Mines (FVI.TO), Wesdome Gold Mines (WDO.TO), MAG Silver (MAG.TO), Silvercrest Metals (SIL.TO), Ssr Mining (SSRM.TO) and New Gold (NDG.TO) gained 2 to 2.6%.

Communications stocks BCE Inc (BCE.TO), Cogeco Communications (CCA.TO) and Rogers Communications (RCI.B.TO) gained about 3%, 1.2% and 1%, respectively.

Real estate stocks Colliers International (CIGI.TO), Granite Real Estate (GRT.UN.TO), Boardwalk Real Estate (BEI.UN.TO) and Altus Group (AIF.TO) gained 1.3 to 1.6%.

Healthcare stock Bausch Health Companies (BHC.TO) and consumer discretionary stocks Pet Valu Holdings (PET.TO), Gildan Activewear (GIL.TO) and Brp Inc (DOO.TO) were among the other prominent gainers in the session.