* TSX index down 0.32 percent at 8,359.72
* Materials drop as bullion price retreats (Adds details, quotes)
TORONTO, March 17 (Reuters) - Toronto’s main stock index was lower on Tuesday morning as its resource-heavy materials sector retreated on a drop in bullion prices.
The main index was briefly higher at the open, but then followed stock markets around the world lower as a five-day winning streak ran out of steam. Moves by the Bank of Japan to shore up its banking system helped to limit losses. [MKTS/GLOB]
“There’s so many cross currents out there,” said Sal Masionis, stockbroker at Brant Securities. “People are still very frustrated and can’t figure out what’s happening.”
At 10:15 a.m. (1415 GMT), the S&P/TSX composite index .GSPTSE was down 26.99 points, or 0.32 percent, at 8,359.72, with four of its 10 main groups lower.
$1=$1.27 Canadian Reporting by Jennifer Kwan; Editing by Peter Galloway