(Adds portfolio manager comment, updates prices to close)
* TSX ends up 132.54 points, or 0.97 percent, at 13,779.44
* Eight of the TSX's 10 main groups rise
By Alastair Sharp
TORONTO, Sept 21 (Reuters) - Canada's main stock index added
almost 1 percent 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 gained, with seven of
them up at least 1 percent. Financial stocks, which make up more
than a third of the TSX's weight, rose 1.7 percent.
The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE ended up 132.54 points, or 0.97 percent, at 13,779.44.
The rebound follows Friday's 1 percent loss following the
U.S. Federal Reserve's decision to stand pat on raising U.S.
interest rates amid concerns about global economic growth.
Manash Goswami, a portfolio manager at First Asset
Investment Management Inc, said the Fed's dovish tone may have
encouraged investors to buy into higher-yielding stocks such as
Manulife Financial Corp MFC.TO and Enbridge Inc ENB.TO .
Enbridge was the index's most influential gainer, up 3.5
percent at C$52.89, while Manulife added 3.2 percent to C$21.08.
Energy stocks gained 1.7 percent as crude CLc1 LCOc1
rose following U.S. drilling data showing slower activity. O/R
"A lot of what's going to happen in Canada is going to be
driven by commodities, sentiment and reality," Goswami said.
"I'm not bullish," he said of the energy sector. "You have
to be very selective."
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.
Toronto-Dominion Bank TD.TO was among the gainers carrying
the most weight, rising 1.8 percent to C$52.60.
Canadian National Railway CNR.TO climbed 2.7 percent to
C$76.71. The overall industrials group, which is edging closer
to the materials group in sector weight, climbed 1.6 percent.
Offsetting the gains was a 1.9 percent loss in the materials
sector, home to Canada's non-energy resource companies.
Advancing issues outnumbered declining ones 175 to 61, for a
2.9-to-1 ratio on the upside.
"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."