TORONTO: 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 US stocks as they outperformed Canadian stocks in the last five sessions," said Michael White, portfolio manager at Picton Mahoney Asset Management.

"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 US 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.