March 9, 2020 / 2:11 PM / 25 days ago

CANADA STOCKS-Toronto stocks eye worst day since 2008 as energy sector reels from oil crash

(Adds details, updates prices)

March 9 (Reuters) - Canada’s main stock index was set for its worst day since 2008 on Monday as the heavyweight energy sector was pummeled by a crash in oil prices while fears of a recession from the coronavirus impact triggered a larger selloff.

* At 9:50 a.m. ET (1350 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 1,595.15 points, or 9.86%, at 14,579.87.

* Deep losses at the open had triggered circuit breakers that halted trading on the bourse until 9:50 a.m.

* The energy sector was the worst performer by far, plunging 29% as oil prices lost a third of their value after Saudi Arabia and Russia signalled they would hike output after their three-year supply pact collapsed.

* The financials sector slipped 8.4%. The industrials sector fell 6.8%.

* Broader global equities were also sold off, with many major bourses sinking into bear territory amid heightened fears of a recession caused by the coronavirus outbreak.

* On the TSX, no issues were higher, while 226 issues declined with 30.96 million shares traded.

* There were no gainers on the TSX. Cenovus Energy led declines with a 47.6% drop, while the second biggest decliner was Vermilion Energy, down 42.4%.

* The most heavily traded shares by volume were Suncor Energy, Athabasca Oil Co, and Chinook Energy .

* The TSX posted no new 52-week highs and 93 new lows.

* Across all Canadian issues there were 56 new 52-week highs and 426 new lows, with total volume of 62.53 million shares.

Reporting by Ambar Warrick in Bengaluru; Editing by Ramakrishnan M.

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