TSX Today: What to Watch for in Stocks on Wednesday, September 13

tsx today

The Canadian equities market remained largely mixed on Tuesday, as investors turned cautious before the release of important consumer inflation data from the United States. The S&P/TSX Composite Index rose slightly by 40 points, or 0.2%, yesterday to settle at 20,223.

Despite steep losses in healthcare, real estate, and technology stocks, a positive movement in energy and consumer cyclical sectors pushed the main TSX index higher.

Top TSX Composite movers and active stocks

Share of Vermilion Energy (TSX:VET) inched up by 4.6% to $21.25 per share in the last trading session, a day after announcing a major operational update. On Monday, the Calgary-headquartered oil producer told investors it now expects the third-quarter production to be at the higher end of its guidance range of 80,000 to 83,000 barrels of oil equivalent per day.

Vermilion highlighted the recent inspection and repair work completion at its Wandoo facility in Australia, where it restarted production earlier this month. Similarly, earlier-than-scheduled completion of the planned major turnaround at its Corrib facilities in Ireland is also likely to contribute positively to the Canadian energy company’s quarterly production. Despite these gains, VET stock is still down 11.3% on a year-to-date basis.

Strengthening oil and gas prices also drove other energy stocks like Precision Drilling, Baytex Energy, and Tamarack Valley Energy up by at least 3.7% each, making them among the top gainers on the Toronto Stock Exchange on September 12.

In contrast, Tilray Brands, Nuvei, and Bombardier were the worst-performing TSX stocks for the day, as they plunged by more than 3% each.

Based on their daily trade volume, Canadian Natural Resources, Suncor Energy, NexGen Energy, and Enbridge were the most active stocks on the exchange.

TSX today

Oil and gas prices continued to strengthen early Wednesday morning, but metals prices traded on a bearish note. Given these mixed signals from the commodity market, I expect the TSX index to remain flat at the open today.

While no major domestic economic releases are due, Canadian investors will closely monitor the latest monthly consumer inflation report and weekly crude oil stockpiles data from the U.S. market this morning.

On the corporate events front, TSX-listed companies Dollarama and North West Company are expected to announce their latest quarterly results on September 13, which could keep their shares volatile.

Market movers on the TSX today

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The post TSX Today: What to Watch for in Stocks on Wednesday, September 13 appeared first on The Motley Fool Canada.

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The Motley Fool recommends Canadian Natural Resources, Enbridge, North West, Nuvei, Tilray Brands, and Vermilion Energy. The Motley Fool has a disclosure policy. Fool contributor Jitendra Parashar has no position in any of the stocks mentioned.