March 1 (Reuters) - Canada's main stock index rose on Friday, boosted by gains in the heavy-weight financial sector as well as energy shares, which increased on the back of a rise in oil prices.
* The Bank of Canada may be closer to a policy turning point, as it is set to hike its key interest rate once again later this year but there is now a small chance of a cut, according to economists polled by Reuters.
* The rate-sensitive financial sector rose 0.78 percent.
* The energy sector increased 1.2 percent, as U.S. crude prices were up 0.4 percent per barrel, while Brent crude added 0.1 percent.
* At 9:46 a.m. ET (14:46 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 113.9 points, or 0.71 percent, at 16,112.91.
* All the major sectors were trading higher, led by a 1.44 percent rise in the consumer discretionary sector.
* Gains in the sector were led by shares of Martinrea International, which was up 11 percent after the auto supplier's fourth-quarter revenue beat analysts' estimates.
* The largest percentage gainer on the TSX was Parkland Fuel Co, which rose 4 percent after the company raised its dividend.
* On the TSX, 179 issues were higher, while 53 issues declined for a 3.38-to-1 ratio favouring gainers, with traded volume touching 25.71 million shares.
* Kinaxis Inc fell 8.4 percent, the most on the TSX, after the cloud-based software provider's quarterly revenue missed estimates.
* The second biggest decliner was First Capital Realty , down 3.9 percent, after entering deal to buy majority stake in Gazit Globe Ltd.
* The most heavily traded shares by volume were Bombardier Inc, GeneNews Ltd and Encana Corp.
* The TSX posted 11 new 52-week highs and no new low.
* Across all Canadian issues, there were 38 new 52-week highs and one new low, with total volume touching 44.91 million shares. (Reporting by Amy Caren Daniel in Bengaluru; Editing by James Emmanuel)