* TSX ends up 0.4% at 20,957.74

* Industrials rise 0.7%; financials add 0.6%

* Energy gains 0.7; oil settles 0.7% higher

* Precision Drilling up 5.3% after reporting results

Feb 6 (Reuters) - Canada's main stock index rose on Tuesday as industrial and financial shares contributed to broad based gains, with the market clawing back some of the previous session's decline.

The Toronto Stock Exchange's S&P/TSX composite index ended up 85.85 points, or 0.4%, at 20,957.74. On Monday, the index posted its biggest decline in nearly three weeks as Federal Reserve Chair Jerome Powell tempered expectations for an early start to rate cuts.

"The TSX had a pretty tough day yesterday, and so did the U.S.," said Colin Cieszynski, chief market strategist at SIA Wealth Management. "In North America, it looks like markets are stabilizing today, waiting to see what happens next."

Industrials rose 0.7% and heavily weighted financials were up 0.6%. The energy sector rallied 0.7% as the price of oil settled 0.7% higher at $73.31 a barrel.

Gains for energy were led by Precision Drilling Corp . Its shares rose 5.3% after the company reported its fourth-quarter results.

The materials group, which includes which includes precious and base metals miners and fertilizer companies, added 0.5% as the price of gold rose.

Technology was the only major sector to end lower, falling 0.4%. (Reporting by Fergal Smith in Toronto ; Editing by Sandra Malerand Purvi Agarwal in Bengaluru; Editing by Shweta Agarwal, Tasim Zahid and Sandra Maler)