(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
By Solarina Ho
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 CLc1
LCOc1 rose on Monday following U.S. drilling data that showed
activity had slowed. O/R
Toronto-Dominion Bank TD.TO 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 .GSPTSE 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 CNR.TO 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 ENB.TO 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.