(RTTNews) – The Canadian market is down marginally around noon on Thursday with investors looking for direction and largely making cautious moves.

Cannabis shares are down sharply, extending recent losses. Materials shares are also exhibiting weakness, while energy stocks are up with notable gains. Shares from other sectors are turning in a mixed performance.

The benchmark S&P/TSX Composite Index is down 12.21 points or 0.06% at 21,640.81 a few minutes before noon. Earlier, the index dropped to a low of 21,560.91.

The Capped Healthcare Index is down more than 6%, dragged down by losses in cannabis shares. Tilray Inc (TLRY.TO) and Cronos Group (CRON.TO) are plunging 12.3% and 10.6%, respectively. Aurora Cannabis (ACB.TO) is down 9%, while Organigram Holdings (OGI.TO) and Canopy Growth Corp (WEED.TO) are down 7.9% and 7.1%, respectively.

Turquoise Hill Resources (TRQ.TO), Endeavour Silver Corp (EDR.TO), Silvercorp Metals (SVM.TO), MAG Silver Corp (MAG.TO), New Gold Inc (NGD.TO), Iamgold (IMG.TO) and Teck Resources (TECK.B.TO) are down 2 to 3.1%.

Among energy stocks, Enerplus Corp (ERF.TO) is rising 4.6%, Cenovus Energy (CVE.TO) is gaining 2.5% and Canadian Natural Resources (CNQ.TO) is up 2.3%. Birchcliff Energy (BIR.TO), Vermilion Energy (VET.TO), MEG Energy (MEG.TO), Crescent Point Energy (CPG.TO) and Parex Resources (PXT.TO) are up 1.3 to 1.6%.

A report from Automatic Data Processing Inc showed private businesses in Canada hired 65,800 workers in October, compared to 9600 in September.