TSX in the red after weak results from Shopify, Hexo

• Seven of the index's 11 major sectors were trading lower, with a 1.3% drop in the technology sector leading the declines.
• US crude prices were down 1.8% a barrel, while Brent crude lost 1.1%.
• The largest percentage gainers on the TSX were Canfor Corp , which rose 1.9%, followed by a 1.5% rise in Waste Connection.

Canada's main stock index fell on Tuesday, owing to bleak earnings reports from e-commerce company Shopify Inc and cannabis producer Hexo Corp, with a drop in oil prices hurting the energy sector.

* At 9:39 a.m. ET (1339 GMT), the Toronto Stock Exchange's S&P/TSX Composite index was down 52.28 points, or 0.32%, at 16,335.25.

Seven of the index's 11 major sectors were trading lower, with a 1.3% drop in the technology sector leading the declines.

Weighing the most on the tech sector was a near 7% fall in shares of Shopify Inc after it posted a quarterly net loss because of higher investments.

The healthcare sector fell 1%, weighed by a 6% drop in shares of Hexo Corp after it posted a bigger net loss, hit by an inventory writedown.

The energy sector dropped 0.6%, as oil prices were pressured by expectations of a rise in US crude inventories and doubts that OPEC and its allies will cut oil output further in December.

US crude prices were down 1.8% a barrel, while Brent crude lost 1.1%.

The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.8% as Gold fell as the dollar firmed and optimism about a US-China trade deal increased.

Meanwhile, the Bank of Canada is likely to keep interest rates steady on Wednesday in its first policy announcement since the federal election, despite signs that investors seeking higher-yielding currencies are shifting more money into Canadian dollars.

On the TSX, 66 issues were higher, while 156 issues declined for a 2.36-to-1 ratio to the downside, with 10.63 million shares traded.

The largest percentage gainers on the TSX were Canfor Corp , which rose 1.9%, followed by a 1.5% rise in Waste Connection.

The most heavily traded shares by volume were Zenabis Global Inc, BetaPro Crude Oil and Hexo Corp.

The TSX posted one new 52-week high and two new lows.

Across all Canadian issues there were nine new 52-week highs and 10 new lows, with total volume of 19.50 million shares.