What Happened March 31 on the TSX?

Index direction (intraday):

• The S&P/TSX Composite rose ~+1.2% to ~32,300–32,800 range during today’s session.

Primary driver (macro):

• Geopolitical easing (Middle East conflict) improved risk sentiment, triggering a relief rally.

Sector performance:

• Broad-based gains (all major sectors positive).
• Technology and materials led, ~+3% type moves cited.
• Energy remained strong on elevated oil prices (still >$100/bbl).

Macro overlay (Canada):

• GDP (Jan): +0.1% MoM → weak but positive growth.
• Market pricing ~2 BoC rate hikes by year-end due to inflation risk from oil.

Context (month/quarter):

• March: ~–5.6% (worst month since mid-2022) [
• 1: ~+2% gain overall