(Updated at 10:10 a.m. ET/ 1510 GMT)

By Nikhil Sharma and Ragini Mathur

Dec 4 (Reuters) - Canada's main stock index hit a record

high on Wednesday, helped by technology and financial stocks,

while investors assessed strong quarterly earnings from two of

the biggest domestic lenders.

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

was up 28.72 points, or 0.11%, at 25,664.45, and was

trading below the record high hit earlier in the day.

"As we sit here very close to all-time highs, there's not

much to complain about," said Angelo Kourkafas, investment

strategist at Edward Jones Investments.

"I would say in the market, just some hesitation today in

light of significant gains last month."

TSX's heavyweight financial sector advanced 0.2%,

with Royal Bank of Canada ( RY ) gaining 1.2% after beating

analyst estimates for fourth-quarter profit, helped by its

takeover of HSBC's domestic business this year and strong wealth

management division.

Still, RBC set aside more funds than expected for possible

souring loans, indicating clients struggled to pay their

mortgages and credit card bills despite multiple rate cuts in

Canada.

Additionally, National Bank of Canada ( NTIOF ) also reported

a rise in quarterly profit, driven by its wealth management

unit, although its stock was down 3.4%.

Adding to sectoral gains, information technology

advanced 1.6%, with Bitfarms ( BITF ) leading with 5.3% rise

after Alliance Global Partners initiated coverage on the

blockchain farm operator with a "buy" rating.

Consumer discretionary fell 1%, pressured by a

4.3% drop in Dollarama ( DLMAF ), despite the retailer reporting

increased third-quarter sales and profit.

The energy sector fell 1.1%, with Baytex Energy ( BTE )

dropping over 5% after two brokerages cut target

prices.

Meanwhile, Canada's headline business activity index rose to

51.2 from 50.4 in October, posting its highest level since April

2023.

South of the border, the focus shifted to Fed Chair Jerome

Powell's comments later in the day and Friday's November monthly

employment report for more clues on the U.S. Federal Reserve's

interest rate trajectory.

Traders are now ascribing a 72.7% chance of a 25-basis point

cut at the Fed's Dec. 17-18 policy meeting.