TORONTO: Canada’s main stock index hit another record high on Friday in a broad-based rally led by mining stocks, as investors assessed the overnight spike in chances of a hefty US interest rate cut next week.

The Toronto Stock Exchange’s S&P/TSX composite index was up 143.04 points, or 0.61%, at 23,618.73 and was set to extend its record run. At least 11 sectors on the index nursed gains as the market reacted to the expectation of a bigger rate cut by the Federal Reserve at its Sept. 18 policy meeting.