The benchmark index of the Toronto Stock Exchange fell Tuesday as lower oil prices pulled down the heavily weighted energy sector.

The S&P/TSX composite index fell 54 points, or 0.58%, to finish at 9,231.62. Earlier in the session, it hit a high of 9,330.61.

Seven of the 10 main TSX posted small advances, but the heavyweight energy group fell the 2.1%.

Energy stocks were hit hard after crude oil dipped back below US$50 a barrel, on forecasts of weaker demand.

Shares of EnCana fell 3.2% to $54.47. Suncor Energy dropped 4% to $30.70.

The financials group offset some of the TSX’s weakness, gaining 0.15%.

Manulife Financial Corp. rose 1.2% and Bank of Nova Scotia rose 0.5%.

The junior S&P/TSX Venture composite index slipped 3.94 points, or 0.4%, to finish at 976.92.

The Canadian dollar climbed 0.36 of a cent to end the day at US82.37¢.

In New York, U.S. stocks fell, dragged down by a surprising drop in retail sales. Retail sales in March snapped two months of increases.

The Dow Jones industrial average dropped 137.63 points, or 1.71%, to 7,920.18. The S&P 500 fell 17.23 points, or 2.01%, to 841.50. The Nasdaq composite index shed 27.59 points, or 1.67%, to 1,625.72.

IE