CANADA STOCKS-TSX rises as consumer, banks stocks jump after Fed
(Adds analyst comment, updates prices to close)
* TSX ends up 77.75 points, or 0.58 percent, at 13,503.98
* Nine of the index's 10 main groups rise
* On track for best month since October 2011
By Alastair Sharp
TORONTO, March 30 (Reuters) - Canada's main stock index rose on Wednesday as consumer and bank stocks bounced and equity investors broadly cheered a more cautious tone on U.S. interest rate hikes from the Federal Reserve.
"The whole market is basically on a rise because of her (Fed Chair Janet Yellen's) comments about low (interest rates) for longer," said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier.
Yellen on Tuesday said the U.S. central bank should proceed cautiously, pushing back on a handful of her colleagues who have suggested another rate hike may be just around the corner.
"It's a psychological boost, but at the end of the day you still need to have good earnings," Nakamoto said. Continued...