(Updates prices, adds background)
Aug 20 (Reuters) - Canada's main stock index dropped aftertwo straight sessions of gains on Tuesday, as energy sharesmirrored a drop in oil prices on persisting concerns overdemand.
* At 9:53 a.m. ET (1353 GMT), the Toronto Stock Exchange'sS&P/TSX Composite index was down 72.03 points, or0.44%, at 16,232.02.
* Seven of the index's 11 major sectors were lower with a0.6% fall in the energy sector leading losses.
* U.S. crude prices were down 0.3% and Brent crude0.4%.
* Oil prices reversed earlier gains in session to tradelower as worries over demand lingered, however hopes that majoreconomies will take stimulus measures to stave off a potentialrecession kept a check on losses.
* The financials sector slipped 0.3% and theindustrials sector 0.5%.
* The materials sector, which includes preciousmetals, added 0.2% after gold prices rose back above $1,500 anounce as investors switched focus to the minutes of the U.S.Federal Reserve's last meeting, which will be closely watchedfor clues on further interest rate cuts.
* Data showed Canadian home prices climbed for a thirdstraight time in July, rising 0.7% from June, but the index waslower than the month's 21-year average.
* On the TSX, 79 issues were higher, while 149 issuesdeclined for a 1.89-to-1 ratio to the downside, with 8.96million shares traded.
* The biggest percentage gainers on the TSX were PeytoExploration & Development Corp, which jumped 2.1%,followed by shares of Canopy Growth, which rose 2.1%.
* CannTrust Holdings Inc fell 3.4%, the most onthe TSX, closely followed by SNC-Lavalin, which fell2.9%.
* The most heavily traded shares by volume were those ofBombardier, Black Iron Inc and Encana Corp.
* The TSX posted six new 52-week highs and no new low.
* Across all Canadian issues there were 11 new 52-week highsand five new lows, with total volume of 15.60 million shares.(Reporting by Shreyashi Sanyal in Bengaluru; Editing byShinjini Ganguli)