Canadian Stocks Fluctuate Before Closing Slightly Higher

(RTTNews) - Canadian stocks showed a lack of direction over the course of the trading session on Friday, with the benchmark S&P/TSX Composite Index swinging back and forth across the unchanged line.

The S&P/TSX Composite Index eventually ended the session up 29.06 points or 0.1 percent at 20,958.44, regaining ground following Thursday's pullback. For the year, the index jumped by 8.1 percent.

The lackluster performance on the day came as traders seemed reluctant to make significant moves on the final trading day of 2023.

While profit taking contributed to the pullback in the previous session, traders seemed reluctant to continue cashing on gains amid concerns about further upside after the S&P/TSX Composite Index reached its best closing level in well over a year on Wednesday.

Most of the major sectors ended the day showing only modest on the day, contributing to the lackluster close by the broader markets.

Healthcare and technology stocks saw some weakness, while consumer staples and telecom stocks moved to the upside.