TSX Pushes Higher as Energy and Tech Surge: Shopify, CNQ, and RBC Lead the Charge
Key Highlights
- TSX sees strong upside momentum with 1,113 advancers vs 474 decliners
- Shopify (SHOP) jumped +5.6%, leading tech gains; Celestica (CLS) rose nearly 5%
- Energy stocks rallied with crude oil crossing $69; CNQ, TC Energy, and Suncor advanced
- Banking stocks rebounded, with RBC and TD gaining over 1.5%
- Volume robust at 153 million+ shares, signaling renewed investor appetite
Toronto – March 24, 2025
Canada’s main stock index kicked off the week with a firm rally, as rising oil prices, a bounce in big bank shares, and an unexpected pop in tech stocks drove the TSX Composite Index higher. Market sentiment was risk-on across sectors, with over 1,100 stocks in the green by mid-session.
While we can’t confirm exactly what fueled Shopify’s breakout, the stock soared more than 5.6% by midday—easily claiming the top spot among tech gainers. Celestica and Constellation Software followed suit, as investors rotated back into high-growth names on the back of improving sentiment around AI and hardware plays.
🔍 Top TSX Movers – March 24, 2025
Company | Price (CAD) | Change (CAD) | % Change | Volume |
|---|---|---|---|---|
Shopify (SHOP) | 157.93 | +8.38 | +5.60% | 780,302 |
Celestica (CLS) | 144.29 | +6.62 | +4.81% | 386,203 |
Constellation Software | 4,730.77 | +104.11 | +2.25% | 19,450 |
CNQ (Cdn Natural Res.) | 44.21 | +0.74 | +1.70% | 18.4M shares |
TC Energy (TRP) | 70.88 | +1.38 | +1.99% | 11.4M shares |
Royal Bank (RY) | 165.99 | +3.07 | +1.88% | 836,728 |
TD Bank (TD) | 86.73 | +1.43 | +1.67% | 1.6M shares |
Brookfield Corp (BN) | 79.17 | +2.24 | +2.91% | 571,701 |
Manulife Financial (MFC) | 44.75 | +1.07 | +2.45% | 882,590 |
Sector Performance
Sector | Top Performers | Driver |
|---|---|---|
Technology | Shopify, Celestica, CSU | Tech rebound & AI momentum |
Energy | CNQ, Suncor, Cenovus, TC Energy | Crude oil at $69.18 (↑1.3%) |
Financials | RBC, TD, Manulife, Brookfield | Confidence in earnings resilience |
Industrials | CP Rail, WSP Global, TFI International | Infrastructure exposure |
Utilities | TC Energy, Pembina, Capital Power | Steady demand for yield plays |
TSX Breadth – Healthy Participation
Exchange | Advancers | Decliners | Unchanged | Volume |
|---|---|---|---|---|
TSX | 1,113 | 474 | 123 | 153,401,000 |
TSX Venture | 299 | 263 | 293 | 70,001,000 |
Alpha | 872 | 398 | 110 | 23,140,000 |
Notable Decliners
While the session was overwhelmingly positive, a few names lagged behind the broader rally:
Company | Price (CAD) | % Change | Comment |
|---|---|---|---|
Restaurant Brands (QSR) | 95.73 | -0.56% | Mild pullback after recent run-up |
Rogers Communications (RCI.B) | 38.90 | -0.79% | Telecom sector underperforms |
Loblaw Companies (L) | 191.79 | -0.10% | Profit-taking after defensive rally |
Nutrien Ltd. (NTR) | 75.19 | -0.17% | Ag stocks tread water |
Commodities Support the Rebound
Commodity | Price (USD) | % Change |
|---|---|---|
Crude Oil (NYMEX) | 69.18 | +1.32% |
Natural Gas | 4.005 | +0.47% |
COMEX Gold | 3,019.80 | +0.05% |
Silver | 33.55 | +0.18% |
Copper | 5.12 | +0.04% |
The strong showing in energy was buoyed by gains in crude and natural gas, while gold hovered comfortably above the $3,000 level—a sign that investors are still hedging amid global uncertainties.
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Final Word
Today’s TSX rally wasn’t just a single-sector story—it was a broad-based rebound led by big tech, oil majors, and financials. Shopify’s surge might’ve stolen the show, but CNQ, TD, and Constellation Software reminded investors that Canada’s market heavyweights still have plenty of gas in the tank.
With crude prices holding firm and bank stocks looking more stable, momentum could carry through the week—though global macro headwinds remain a lurking factor.
What is your take on this story?
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