(Updates market action, prices)
Sept 20 (Reuters) - Canada's main stock index hit a record high in a broad-based rally on Friday, with energy shares outperforming as they continue to track gains in oil prices.
* The Toronto Stock Exchange's S&P/TSX Composite index touched a fresh all-time high of 16,947.23 points and was on track to clock its fourth straight week of gains.
* At 9:45 a.m. ET (1345 GMT), the TSX was up 80.84 points, or 0.48%, at 16,939.19.
* The energy sector jumped 1.2%, the most among the 11 major sectors, as oil prices were set to jump more than 7% this week on rising Middle East tensions.
* U.S. crude prices were up 1% a barrel, while Brent crude added 0.7%.
* Tensions in the Middle East also helped push prices of gold higher, while palladium hit a record peak on short supply.
* The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.5%.
* Also buoying sentiment was data which showed Canadian retail sales were up 0.4% in July from June on stronger sales of new cars at motor vehicle and parts dealers, Statistics Canada said.
* Financials and industrial sectors rose 0.4%, each.
* On the TSX, 173 issues were higher, while 58 issues declined for a 2.98-to-1 ratio favouring gainers, with 65.61 million shares traded.
* The largest percentage gainer on the TSX were shares of First Quantum Minerals, which jumped 6.8% after Bloomberg reported the company is drawing takeover interest.
* Precision Drilling fell 3.5%, the most on the TSX, followed by shares of Aurora Cannabis, down 3.5%.
* The most heavily traded shares by volume were Toronto Dominion Bank, Manulife Financial and Enbridge Inc.
* The TSX posted eight new 52-week highs and no new low.
* Across all Canadian issues there were 51 new 52-week highs and two new lows, with total volume of 75.85 million shares. (Reporting by Shreyashi Sanyal in Bengaluru)