(Updated at 10:20 a.m. ET/ 1420 GMT)

By Nikhil Sharma

Oct 24 (Reuters) - Canada's main stock index fell on

Thursday due to broader losses led by mining and telecom stocks,

as the market reacted to quarterly earnings from major domestic

corporations.

The Toronto Stock Exchange's S&P/TSX composite index

was down 101.01 points, or 0.41%, at 24,472.61 and was

set for its fourth straight session of losses.

The materials sector experienced the largest decline,

dropping 1.3%, primarily due to Canadian miner Teck Resources,

which fell 6.4% to the lowest point on the TSX after it lowered

annual copper production forecast.

Canada's capped communications lost 1.1%, hurt by

a 2.7% decline in Rogers Communications ( RCIAF ) as it missed

market expectations for third-quarter wireless subscriber

additions.

In contrast, information technology rose 1.9%,

benefitting from a 15.4% jump in Celestica ( CLS ) after it

reported third-quarter results.

While markets continue to absorb the impact of the oversized

rate cut announced by the BoC on Wednesday, they remain largely

driven by earnings.

"Regardless of what the news, there are some people that are

just waiting for the earnings report and no matter what, they're

going to sell," said Colin Cieszynski, chief market strategist

at SIA Wealth Management.

"It looks like it might be profit-taking against the news."

The Bank of Canada lowered its key benchmark rate by 50

basis points; however, economists say another large interest

rate cut this year will likely be required to boost growth.

Across the border, Wall Street's major indexes logged gains

after Tesla's strong earnings forecast.

Investors also reacted to datasets from the U.S., where S&P

Global's flash PMI showed business activity increased in October

amid strong demand, while U.S. weekly jobless claims

unexpectedly fell last week.