India, June 17 -- Giving back ground following four consecutive sessions of gains, Canadian stocks moved lower on Wednesday as investors assessed the reopening of the Strait of Hormuz against forecasts of a delayed recovery in oil production in the gulf. In addition, traders resorted to profit-booking from the nearly 3.5% gains from the previous four sessions.
After opening a little lower than yesterday's close, today the benchmark S&P/TSX Composite Index gained early in the session but gave ground later to trade lower throughout the rest of the session before settling at 35,125.11, down by 264.47 points (or 0.75%).
Financials (0.54%) was the only one of the 11 sectors that posted gains today.
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