After opening slightly down, the Canadian market kept edging lower and lower as the session progressed on Thursday, due to sustained selling in materials, consumer discretionary and technology sectors.
The benchmark S&P/TSX Composite Index ended with a loss of 124.41 points or 0.54% at 22,726.76.
Hut 8 Corp (HUT.TO) ended down nearly 8%. Teck Resources (TECK.B.TO) and Dayforce (DAY.TO) closed lower by 4.8% and 4.3%, respectively.
Restaurant Brands International (QSR.TO), goeasy (GSY.TO), Onex Corporation (ONEX.TO), West Fraser Timber (WFG.TO), Methanex Corporation (MX.TO) and Shopify Inc (SHOP.TO) closed down 2.4 to 3.1%.
Precision Drilling Corporation (PD.TO), Cargojet (CJT.TO), Descartes Systems Group (DSG.TO), Dollarama Inc (DOL.TO) and Canadian National Railway (CNR.TO) lost 1 to 2%.
Tenaz Energy Corp (TNZ.TO) soared 56.4%. The stock rallied after the company signed an agreement to acquire all issued and outstanding shares of NAM Offshore B.V. for $180.33 million.
Quebecor Inc (QBR.TO) rallied 5.8%. Sleep Country Canada Holdings (ZZZ.TO), Tecsys Inc (TCS.TO) and Hydro One (H.TO) 2.8%, 2.5% and 2.3%, respectively.
Cogeco Communications (CCA.TO), AtkinsRealis Group (ATRL.TO), Tourmaline Oil Corp (TOU.TO), Fairfax Financial Holdings (FFH.TO), Fortis Inc (FTS.TO), Alimentation Couche-Tard (ATD.TO) and Stelco Holdings (STLC.TO) gained 1 to 1.7%.