India, Aug. 25 -- Canadian stocks declined on Monday as investors resorted to profit-taking from last week's record high close. However, selling pressure was somewhat subdued amid renewed hopes of BoC rate cuts in line with anticipated US Fed rate cuts.
After opening lower than the previous week's record close, the benchmark S&P/TSX Composite Index slid further into negative territory. Touching an intraday low of 28,138.70 within an hour, the index rose mildly to close at 28,169.94, down by 163.19 points (or 0.58%).
Notably, the index set a new record closing high last Friday, when it settled at 28,333.13.
Facing an uphill task of stabilizing the economy in the aftermath of 35% tariffs on its exports to the US, Prime Minister Mark Carney...