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(Adds details on specific stocks and sectors, updates prices)
* TSX up 161.87 points, or 1.05 percent, at 15,571.68
* All of the TSX's 10 main groups were higher
TORONTO, Jan 20 (Reuters) - Canada's main stock index jumped 1 percent on Friday in a broad rally led by resources stocks as oil prices pushed higher and other commodity prices also gained and as investors eyed the inauguration of Donald Trump as the next U.S. president.
Oil prices rose 2 percent ahead of a weekend meeting of the world's top oil producers that is expected to demonstrate compliance with a global output cut deal.
The index's most influential movers included one of its biggest oil and gas producers, Canadian Natural Resources Ltd , up 1.6 percent at C$41.05. Pipeline companies also gained, with Enbridge advancing 1.9 percent to C$57.82 and TransCanada up 1.3 percent at C$62.72.
Investors hope to get a clearer picture of Trump's likely economic policies when he delivers an inaugural speech later in the day.
Canada sends three quarters of its exports to the United States, and exporters are scrambling to find ways to avoid a potential import tax, including the possible shifting of production or supply lines south of the border.
Meanwhile, his proposed tax and regulatory reforms and higher infrastructure spending could benefit Canadian companies from banks with operations there to industrial and basic materials stocks, which would benefit from faster U.S. economic growth.
The financials group gained 0.9 percent, with Toronto-Dominion Bank advancing 1.0 percent to C$67.26 and Royal Bank of Canada adding 0.8 percent to C$94.03.
Several lumber companies, the focus of a long-running trade dispute between the two countries, were lower, with Western Forest Products Inc down 2.2 percent at C$44.68.
At 10:21 a.m. ET (1521 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 161.87 points, or 1.05 percent, at 15,571.68. All of the index's 10 main groups were in positive territory, with eight gainers for every falling stock.
Fertilizer companies rose, with Potash Corp up 3.7 percent at C$24.96 and Agrium Inc advancing 3.2 percent to C$138.98, after a bank sharply increased its price target on a U.S. peer.
Potash demand has been brisk, with Canpotex Ltd, the offshore sales agency for Potash Corp, Agrium and Mosaic Co sold out for the first quarter, while urea nitrogen prices are strong, according to Scotiabank.
The materials group, which includes precious and base metals miners and fertilizer companies, added 1.3 percent.
Canada's annual inflation rate rose less than expected in December, while a small retail sales gain in November was also underwhelming compared with economists' forecasts. (Reporting by Alastair Sharp; Editing by Jonathan Oatis)