home Business & Finance It might be time to get defensive after blistering first half for TSX

It might be time to get defensive after blistering first half for TSX

For investors who missed out on big returns on the TSX in the first half, playing catch-up in the second half of 2019 will be tough, say analysts.Postmedia

Canadian investors reaped the rewards of the S&P/TSX Composite Index’s best first half in more than a decade this year, but may have to look into repositioning their portfolios in preparation for a slower end to 2019, according to some market watchers.

The TSX was up about 16 per cent from the beginning of the year through the end of June. The rally followed a deep correction that saw Canadian markets bottom out at the end of 2018 and was led by the mining sector — including companies such as Ero Copper Corp. and Eldorado Gold Corp. which rose 126 and 99 per cent, respectively, in the first half. The index, which is light on tech stocks, was also pushed forward by the performance of e-commerce platform Shopify Inc., which soared 113 per cent.

For investors who missed out on those returns, playing catch-up in the second half of 2019 will be tough, said Curtis Mangione, an investment adviser with TD Wealth Private Investment Advice.