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CANADA STOCKS-Energy boost lifts Toronto shares; tech stocks weigh

(Updates prices, adds comment)

By Amal S

Sept 27 (Reuters) - Canada's energy-heavy main stock index gained on Monday, as oil prices jumped more than 1% on the prospect of improving demand, although gains were limited by a slide in technology stocks.

At 9:41 a.m. ET (1341 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 32.02 points, or 0.16%, at 20,434.68.

"In the Canadian stock market ... we're playing a little bit of catch up to U.S. stocks as they outperformed Canadian stocks in the last five sessions," said Michael White, portfolio manager at Picton Mahoney Asset Management.

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"That, coupled with the move in oil is probably the easiest way to explain today's move."

Energy stocks led gains, gaining 4%, as oil prices rose for a fifth straight day with Brent at its highest since October 2018 and heading for $80 amid supply concerns as demand picks up in parts of the world with the easing of pandemic restrictions.

On the other hand, technology stocks fell 1.6% tracking the U.S. tech-heavy Nasdaq index.

Canada's main index has fallen nearly 1% in September and is on course to snap a seven-month winning streak on worries of a slowdown in the global economic recovery, although a recent rebound in commodity prices helped limited losses.

The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.8% and was on course to snap a two-day losing streak.

HIGHLIGHTS

Oil producers MEG Energy Corp and Crescent Point Energy Corp were the largest percentage gainers on the index.

The TSX posted eight new 52-week highs and five new lows.

Across all Canadian issues there were 36 new 52-week highs and 20 new lows, with total volume of 46.32 million shares.

(Reporting by Amal S in Bengaluru; Editing by Amy Caren Daniel)