The Stock Market At Close – Thursday, October 5, 2023
We are currently in a very strong bear market. This bear appears really intelligent but angry.
The Toronto Market
The Toronto TSX composite index today advanced 103.00 points, or 0.54%, to close at 19,137.81. Today’s session was a broad-based favourable market.
Seven of the sectors ended the market session advancing for the day. Utilities led the gaining sectors with a 2.10% gain. Telecommunications Services followed with 1.98%. Basic materials gained 0.72% and Financials ended the session with 0.50% gain. Energy gained 0.36% after yesterday’s big loss. Technology was down -0.16%
Except that the Utilities sector was down -6.15% during the past one week, one would have suggested the possibility that investors might finally be prioritizing safety over risk. Utilities are normally the safe bets guaranteeing dividends even during the bear market periods.
Today’s Statistics: The gaining issues (advancers) totally outnumbered the declined issues (decliners) today. The ratio of advancers to decliners was 1.41-to-1.00. In real numbers, 784 advancers to 555 decliners with 225 Unchanged. There were 13 new 52-Week Highs and 76 new 52-Week Lows. The total volume of shares traded for gaining stocks was 189,887,317 or 68.6%; the total volume for declined stocks was 71,692,908 or 25.9% and 15,036,768 or 5.4% for “Unchanged”. The statistics are indicating a bear market.
The total volume of stocks traded today was 276,616,993 compared to 319,622,265 on Monday, a 4.3% decrease. Today’s volume of 276,616,993 was significantly below the recent ten-market session average.
The US Market
The Dow Jones Industrial Average declined -9.98 points, or 0.03%, to close at 33,119.57. The S&P 500 dropped -5.56 points, or 0.13%, to close at 4,258.19. The Nasdaq Composite was down -16.18 points, or -0.12%, to close at 13,219.83. The index made marginal moves but in the downward direction.
The Financials led the gaining sector with a gain of 0.66% for the day. Healthcare followed with a 0.62% gain. Technology managed a 0.06% gain. Energy declined -0.04%; Utilities declined -0.38% and Industrials declined -0.42%.
Today’s Statistics: Today, the declined issues (decliners) outnumbered the gaining issues (advancers) on both the NYSE and NASDAQ. The ratio of decliners to advancers on the NYSE was 1.11-to-1. In real numbers 2,085 decliners to 1,873 advancers with 274 “Unchanged”. There were 26 new 52-Week Highs and 356 new 52-Week Lows. The total volume of volume-gaining stocks was 468,286,171 or 50.3%; the total volume of declined-volume stocks was 446,963,837 or 48.0%; and 15,928,395 or 1.7% “Unchanged”.
The total volume of stocks traded on the NYSE today was 931,178,403 compared to 984,628,627 yesterday, a 5.5% decrease. Today’s total volume, of 931,178,403 shares traded was lower than the recent 10-day average of daily volume of shares traded.
On the NASDAQ, the decliners marginally prevailed over the advancers today. The ratio of advancers to decliners was 1.02-to-1. In real numbers, 2,176 decliners to 2,127 advancers with 448 unchanged. There were 26 new 52-Week Highs and 356 new 52-Week Lows. The total volume of volume-gaining stocks was 1,836,146,037 or 42.9%; the total volume of declined-volume stocks was 2,382,479,029 or 55.7% and 57,167,587 or 1.3% for “Unchanged”.
The total volume of stocks traded today was 4,275,792,653 compared to 4,803,797,346 yesterday.
Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
The Canadian Vanguard Chinese Stocks Watchlist
EV, Energy and Resource Stocks Watchlist
IMPORTANT NOTICE
Readers are reminded that the market’s performance at the following day’s market session may completely differ from the market performance at the overnight markets.
SUBSCRIPTION Offer: We thank you for following our Stock Market posts but please be aware that we shall soon be restricting these articles to subscribers only.
We do not send this publication by email to readers. If you receive a copy by email please simply forward the email to us.
