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(Updates at market close) By Fergal Smith Sep 11 (Reuters) - Canada's main stock index clawed back some of its weekly decline on Friday, led by gains for technology shares, as a pullback in oil prices and the prospect of tighter U.S. monetary policy eased some concerns about the inflation outlook. The S&P/TSX Composite Index ended up 191.21 points, or 0.5%, at 35,697.49, after hitting its lowest closing level in nearly six weeks on Thursday. * For the week, the index was down 2.2%, its fourth straight weekly decline and the steepest since March. * Wall Street also rallied on Friday as oil prices retreated and strong consumer price data reinforced expectations the Federal Reserve will raise interest rates next week to fight inflation. * "Equities enjoyed a small relief rally," Douglas Porter, chief economist at BMO Capital Markets, said in a note. * "In part, this reflected a modest late-week pullback in oil prices ... but it also may partly reflect the view that with the Fed now most likely to start tightening again, the medium-term outlook for inflation may be less fraught," Porter said. * U.S. crude oil futures settled 2.4% lower at $100.05 a barrel after a report that foreign ministers in the Middle East are trying to work out a temporary deal with Iran to manage shipping through the Strait of Hormuz. * The technology sector rose 3.6%, with shares of electronic equipment company Celestica gaining 6.6%. * Industrials added 0.7% and heavily weighted financials ended 0.6% higher. The materials group, which includes metal mining shares, was up 1.1% as gold rallied. * Four of the 10 major sectors ended lower, including energy. It was down 0.7%. (Reporting by Fergal Smith in Toronto and Utkarsh Hathi and Darshan Kumar in Bengaluru; Editing by Sahal Muhammed and Will Dunham) Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
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