The Globe and Mail reports in its Tuesday edition that Canada's main stock index rose by the most in seven weeks on Monday, clawing back some recent declines, as investors rotated their holdings out of technology and into resource and interest-rate-sensitive shares. A Reuters dispatch to The Globe says that the S&P/TSX Composite Index ended up 293.73 points at 21,848.59, its biggest gain since May 6. On Friday, the index posted its fifth straight weekly decline. "It's been overdue for a rebound," said Elvis Picardo at Luft Financial. "There's possibly some profit taking in the big caps. I think there's some sector rotation going on too because some of the valuations in the other sectors look really attractive. When that kind of sector rotation tends to happen it generally benefits the TSX." The TSX's forward price earnings ratio, a key valuation metric, at 14.3, is much less than the 22.4 level for U.S. benchmark the S&P 500. The energy sector rallied 3.4 per cent as the price of oil settled 1.1 per cent higher at $81.63 (U.S.) a barrel. Gold and copper prices also climbed. Heavily weighted financials added 1.7 per cent, while the utilities group was up 2.4 per cent, and real estate added 2.1 per cent.