The S&P/TSX Composite rose 0.5% to close at a fresh record of 31,661 on Thursday as gains in mining shares outweighed a tech selloff driven by renewed concerns over lofty valuations. Heavyweights Agnico Eagle, Barrick Mining and Wheaton Precious led the advance, adding between 2.9% and 3.7%, while junior miners OceanaGold, Pan American Silver, New Gold and First Majestic Silver topped the index with increases of 3.3% to 6.9%. Global risk off sentiment intensified after Oracle reported weak results and issued downbeat guidance, dragging tech names worldwide and prompting mega cap Shopify to shed 2.4%. Meanwhile the Bank of Canada held its policy rate at 2.25% and the Federal Reserve cut rates by 25 bps, although the outlook for additional easing remains uncertain amid data gaps, inflation pressures and an expected leadership change at the Fed.