(Updates with market reaction, analyst comment, details)
* TSX up 172.33 points, or 1.26 percent, to 13,819.23
* Nine of the TSX’s 10 main groups rise
TORONTO, Sept 21 (Reuters) - Canada’s main stock index rose on Monday, bolstered by robust gains across most of the index’s key sectors including financial and energy stocks, which were helped by higher crude oil prices.
Eight of the index’s 10 main groups saw gains of more than 1 percent, with financial stocks, which make up roughly a third of the TSX’s weight, up 1.6 percent.
Canadian banks, which have a significant stake in the country’s oil and gas industry, have often seen their fortunes move in tandem with crude prices in recent months. Crude rose on Monday following U.S. drilling data that showed activity had slowed.
Toronto-Dominion Bank was among the gainers carrying the most weight, rising 1.4 percent to C$52.40.
At 11:16 a.m. EDT (1516 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 172.33 points, or 1.26 percent, to 13,819.23.
The rebound follows Friday’s 1 percent loss following the Federal Reserve’s decision to stand pat on raising U.S. interest rates amid concerns about global economic growth.
“It’s just a bit of a recovery. The market generally still wants to go down for a while,” said Douglas Davis, chief executive officer at Davis-Rea. “I think it will be very volatile until mid-October. It’s just always seasonally weak through here.”
Canadian National Railway climbed 2.5 percent to C$76.57 and was another top gainer. The overall industrials group, which is edging closer to the materials group in sector weight, climbed 2.0 percent.
Enbridge Inc shares bounced 2.7 percent to C$52.47, with the overall energy group adding 1.8 percent.
Offsetting some of the gains was a 1.1 percent loss in the materials sector, home to Canada’s resource companies.
Advancing issues outnumbered declining ones on the TSX by 191 to 54, for a 3.54-to-1 ratio on the upside. (Reporting by Solarina Ho; Editing by James Dalgleish)
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