TSX Today: What to Watch for in Stocks on Thursday, January 29

Soaring commodity prices helped Canadian equities edge up on Wednesday even as both the Bank of Canada and the U.S. Federal Reserve held interest rates steady, in line with expectations, but investors remained cautiously optimistic as central banks signaled confidence in their current policy stance. The S&P/TSX Composite Index inched up by 80 points, or 0.2%, for the day to settle at 33,176 — marking yet another record close.

While surging commodities drove shares of resource-linked companies higher and technology stocks also traded positively, other key sectors, such as healthcare and real estate, lagged, limiting broader gains.

The Canadian central bank reiterated its focus on inflation stability, maintaining the overnight rate at 2.25% as it monitors the impact of U.S. trade policies. Meanwhile, in the U.S., fresh data on bank lending and credit conditions pointed to slowing momentum.

Top TSX Composite movers and active stocks

Energy Fuels, Denison Mines, NexGen Energy, and Aya Gold & Silver were the top-performing TSX stocks for the day, with each climbing by at least 6.6%.

On the flip side, shares of Aritzia, Curaleaf, Lithium Americas, and Definity Financial slipped by more than 4% each, making them the day’s worst performers on the Toronto Stock Exchange.

CGI (TSX:GIB.A) also slipped 2.4% to $117.09 per share after the tech services firm reported its first‑quarter fiscal 2026 (three months ended in December) results. Its first-quarter revenue rose 7.7% year over year to $4.1 billion, and the company’s diluted earnings climbed 5.7% to $2.03 per share.

However, CGI’s operating margins for the quarter edged lower, with earnings before income taxes margin falling to 14.7% from 15.6% a year earlier, partly due to restructuring and acquisition‑related costs and the impact of a U.S. government shutdown. Meanwhile, the company’s net debt also jumped to $3.45 billion from $1.57 billion last year, disappointing investors.

Based on their daily trade volume, Enbridge, B2Gold, Baytex Energy, Capstone Copper, and Telus were the five most active stocks on the exchange.

TSX today

Commodity prices across the board surged sharply in early morning trading on Thursday, pointing to a higher open for the resource-heavy main TSX index today.

While no major domestic economic releases are due, Canadian investors will closely monitor the corporate earnings from both sides of the border, which could keep TSX stocks volatile as markets also digest recent central bank commentary and macroeconomic signals.

The TSX-listed companies Rogers Communications and Brookfield Infrastructure Partners will announce their latest quarterly results today.

Market movers on the TSX today

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  More reading

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  Fool contributor Jitendra Parashar has positions in Aritzia and Enbridge. The Motley Fool has positions in and recommends Aritzia. The Motley Fool recommends B2Gold, Brookfield Infrastructure Partners, CGI, Enbridge, Rogers Communications, and TELUS. The Motley Fool has a disclosure policy.