The Toronto Stock Exchange's S&P/TSX composite index ended up 64.60 points, or 0.3%, at 21,357.56.
For the week, the index was up 1.3%, snapping a two-week losing streak.
"It seems like the volatility in 2022 is continuing both to the downside and the upside," said Mike Archibald, a portfolio manager at AGF Investments.
Some parts of the market, like technology and industrials, are "extremely oversold," Archibald said. "I think that there is likely to be a bounce in some of that stuff."
The technology group rose 0.6% after posting on Thursday its lowest closing level since May 2021. It included a 3.7% gain for Shopify Inc, helped by a spurt in the final hour of trading.
Energy shares climbed 2.9% as oil added to recent gains. U.S. crude oil futures settled 2.1% higher at $83.82 a barrel on supply constraints and worries of a Russian attack on neighboring Ukraine.
The Toronto market gained 22% in 2021, its best yearly performance since 2009, supported by massive stimulus, vaccine rollouts and hopes of a global economic recovery.
However, the index recently lost steam as investors grew concerned about the prospect of a more hawkish U.S. Federal Reserve this year.
Financials, the most heavily weighted sector on the TSX, ended 0.3% higher on Friday, while the materials group, which includes precious and base metals miners and fertilizer companies, lost 0.5%.
(Reporting by Fergal Smith in Toronto; Additional reporting by Amal S in Bengaluru; Editing by Matthew Lewis)
By Fergal Smith
