Sept 20 (Reuters) - Canada's main stock index slipped on Friday, hurt by declines in energy and industrials shares, as investors paused a day after an oversized interest-rate cut in the United States fueled broader gains in global markets.
The Toronto Stock Exchange's S&P/TSX composite index was down 83.53 points, or 0.35%, at 23,782.74, but was set to register its second consecutive weekly gains.
The TSX also took cues from Wall Street, where major indexes fell after a jump in the previous session following the U.S. interest rate cut.
"Today I think the market (is) just taking a bit of a breather," said Allan Small, senior investment advisor at Allan Small Financial Group with iA Private Wealth.
"I haven't really seen anything that would warrant caution."
The TSX is up 13.6% for the year, buoyed by the Bank of Canada cutting its interest rates thrice, as well as optimism over Fed's policy easing.
Canada's inflation has reached its central bank's target of 2%, and, like their U.S. counterpart, is now focused on boosting the country's slowing economy.
Investors also assessed data on Canada's retail sales, which rose 0.9% in July from June to C$66.38 billion ($48.95 billion), led by higher sales at motor vehicle and parts dealers.
At least nine sectors nursed losses on Friday, led by Canada's energy sector that fell over 1.6% as it tracked declines in oil prices.
Industrials and healthcare sectors also declined significantly.
The materials sector rose 0.1%, supported by gold prices that hit a record high.
On the composite index, the biggest decliners were Ballard Power Systems Inc, TFI International Inc and Africa Oil Corp, which fell between 2.7-4.6%.
Reporting by Nikhil Sharma in Bengaluru; Editing by Leroy Leo
Source: Reuters