(Updated at 10:10 a.m. ET/ 1410 GMT)

By Nikhil Sharma

Oct 30 (Reuters) - Canada's main stock index fell on

Wednesday, with mining shares leading the declines, as investors

rushed to book profits ahead of the U.S. presidential election

and Federal Reserve's rate-setting meeting next week.

The S&P/TSX composite index was down 36.6 points,

or 0.15%, at 24,525.95.

Materials shares led overall sectoral losses with

a fall of 1.1%, while the information technology sector

dipped as it mirrored the tech-heavy Nasdaq index across

the border.

In contrast, the energy sector inched up 0.5% as

oil prices jumped after Reuters reported OPEC+ could delay a

planned oil production increase scheduled in December.

"Sometimes people may take profit ahead of the Fed meeting

and the election," said Allan Small, senior investment advisor

at Allan Small Financial Group with iA Private Wealth.

"It is very possible that's what we're seeing today."

Wall Street stocks were muted on Wednesday as markets

digested economic data and quarterly earnings from major

corporations.

Megacap Alphabet's strong results stole market

attention as it kicked off earnings from five members of the

"Magnificent Seven" group this week.

Among economic data, U.S. private payrolls growth surged in

October, despite fears of temporary disruptions from hurricanes

and strikes.

Separately, U.S. gross domestic product increased at a 2.8%

annualized rate in the third quarter as ebbing inflation and

strong wage gains powered consumer spending.

Market participants expect the Fed to implement two separate

25-basis-point rate cuts by later this year.

The U.S. election due on Nov. 5 added jitters to the markets

as investors weighed the prospect of Donald Trump's victory.

Back home, Bank of Canada Governor Tiff Macklem is expected

to appear at the standing senate committee on banking, commerce

and the economy later in the day.

Among other stocks, Secure Energy shares rose 8.4%

after posting third-quarter results.