* TSX ends up 0.3% at 21,831.02
* Posts highest closing level since April 2022
* Tech and industrials rise 0.8%
* Utilities sector loses 1.1%
March 12 (Reuters) - Canada's main stock index rose on Tuesday to a near two-year high, led by gains for technology and industrial shares, as investors shrugged off the second straight month of firmer U.S. inflation readings.
The Toronto Stock Exchange's S&P/TSX composite index ended up 61.80 points, or 0.3%, at 21,831.02, its highest closing level since April 2022.
U.S. consumer prices increased solidly in February amid higher costs for gasoline and shelter, suggesting some stickiness in inflation that further diminishes the chances of a Federal Reserve interest rate cut before June.
"Equity markets don't seem that fazed by the disappointing result. They recognize that this is not a great result, but it's not bad enough to completely knock the Fed off track", said Doug Porter, chief economist at BMO Capital Markets.
"There's still the prospect for interest rate cuts sometime around the middle part of the year."
The technology sector rose 0.8%, with e-commerce company Shopify gaining 1.9%. Industrials were also up 0.8% and heavily-weighted financials added 0.2%.
National Bank of Canada denied a media report saying it was in talks to sell its Cambodian unit. The bank's shares rose 0.3%.
The high-dividend paying utilities sector lost 1.1% as bond yields climbed, while the materials sector gave back some recent gains. It fell 0.6%, as gold's record-setting rally lost some momentum. (Reporting by Fergal Smith in Toronto and Purvi Agarwal in Bengaluru; Editing by Vijay Kishore and Marguerita Choy)
