Updates throughout, adds details and analyst comments
TSX down 0.2% at 33,031.19 points
Bank of Canada holds rates, says hard to predict future moves
Technology index leads losses with 1.1% fall
By Utkarsh Hathi
Jan 28 (Reuters) - Canada's main stock index fell on Wednesday, dragged down by technology and financial shares, as the Bank of Canada kept interest rates unchanged while flagging uncertainty around future policy decisions.
The S&P/TSX Composite Index .GSPTSE was down 0.2% at 33,031.19 points as of 10:21 a.m. ET.
The central bank's governor Tiff Macklem said the high level of geopolitical and trade uncertainty made it difficult to predict the timing and direction of the next rate change. The Bank of Canada's policy rate currently stands at 2.25%.
"The pause removes a key driver that powered financials and rate-sensitive sectors higher, while persistent trade uncertainty keeps volatility elevated across export-heavy industrials and materials," Michael Constantino, CEO of Webull Canada, said in a note.
Financial stocks .SPTTFS, which have the biggest weighting on the main index, dropped 0.9%, while the rate-sensitive industrials sector .GSPTTIN fell 0.8%.
The technology index .GSPTTHC dropped 1.1%, with IT consulting firm CGI GIBa.TO sliding 3.9% after reporting first-quarter results.
On Wall Street, the S&P 500 crossed 7,000 points for the first time, spurred by AI optimism after upbeat earnings from key Nvidia supplier SK Hynix 000660.KS and chip equipment giant ASML ASML.AS.
Investors also await the U.S. Federal Reserve's interest-rate decision later in the day. The Fed is expected to hold rates steady, though the verdict is likely to be overshadowed by concerns over its autonomy amid President Donald Trump's attempts to gain greater control of monetary policy.
TSX's gold-focused index .SPTTGD jumped 1.5%, limiting overall declines, as gold prices moved past $5,300 per ounce early in the day, triggered by a sell-off in the U.S. dollar even as Trump brushed off January's slide.
The broader materials index .GSPTTMT, which includes metal miners, gained 0.7% as copper, aluminum and zinc also traded higher.
Energy stocks .SPTTEN were up 0.5% as oil prices hovered around a four-month high, lifted by supply concerns due to the slow resumption of operations at Kazakhstan's Tengiz oil field and production disruptions in the U.S following a winter storm.
(Reporting by Utkarsh Tushar Hathi; Editing by Jonathan Ananda)
((utkarshtushar.hathi@thomsonreuters.com))