(Updates prices, adds comment) Oct 15 (Reuters) - Canada’s main stock index rose on Friday and was on course for its best weekly performance since March, as the energy sector rallied on the back of higher oil prices. At 9:43 a.m. ET (13:43 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 40.52 points, or 0.19%, at 20,860.46. The benchmark was set to post its best weekly gain in 31 weeks, thanks to a 3.3% jump in miners and a 2.6% rise in technology stocks. “It really feels like people got a little too bearish heading into earnings season and what we’re seeing now is a bit of a short-covering rally in the market as first glimpses we’ve had of earnings have been okay,” said Gregory Taylor, portfolio manager at Purpose Investments. Big U.S. financial institutions reported strong earnings this week, setting a positive tone in markets after fears over surging commodity prices, supply chain issues and inflation dogged equities. Leading the charge in Canada on Friday, the energy sector advanced 1.8% to its highest since April 2019 as crude prices climbed more than 1%. Financials, which account for about 30% of the index’s market value, firmed 0.7% to a near two-month high. But gains were capped by a 0.8% slide in material stocks, which include precious and base metals miners and fertilizer companies, due to weakness in gold prices. After snapping a seven-month win streak in September, the Canadian equity index has gained 3.7% so far this month. Official data earlier in the day showed the domestic wholesale trade rose by 0.3% in August from July, below expectations, while producer prices most likely rose by 1.0% in September. HIGHLIGHTS First Quantum Minerals Ltd and MEG Energy Corp were the largest percentage gainers on the TSX. The TSX posted 15 new 52-week highs and no new lows. Across all Canadian issues there were 72 new 52-week highs and 9 new lows, with total volume of 45.61 million shares. (Reporting by Amal S in Bengaluru; Editing by Aditya Soni) Our Standards: The Thomson Reuters Trust Principles.