REFILE-CANADA STOCKS-TSX climbs 100 points on resource strength

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* Energy group higher despite oil price dip

* Nexen jumps 16.7 pct as takeover rumors emerge

* Materials up 3.4 percent as gold firms

* Trading muted with U.S. markets closed for Thanksgiving (Adds quotes, details)

By Jennifer Kwan

TORONTO, Nov 27 (Reuters) - The Toronto Stock Exchange's main index rose for a fifth straight day on Thursday thanks to strength in energy and materials issues, raising hopes that the market is close to finding a bottom.

Heavily weighted stocks that helped the market move higher included Potash Corp of Saskatchewan (POT.TO), up 4.5 percent at C$79.69, and Nexen Inc (NXY.TO), which was 16.7 percent higher at C$26.01.

Shares of Nexen soared as Canada's No. 4 independent oil exploration company again had to fend off speculation that it is poised to be bought by a larger rival. [ID:nN27403565]

The energy sector was up 3.4 percent even though the price of oil CLc1, at about $53.82 a barrel, was lower on the day.

The materials group rose 3.4 percent as gold firmed on a weaker U.S. dollar. [ID:nLR122834] Barrick Gold Corp (ABX.TO) rose 2.4 percent to C$36.49.

"They are deeply, deeply oversold here so it's not surprising that you would see days where they have some fairly significant moves up," Peter Chandler, senior vice-president at Canaccord Capital in Waterloo, Ontario, said of the two commodity-related sectors.

"There's also a belief that the markets are trying to put in a bottom," Chandler said.

The moves occurred in a low-volume environment because U.S. markets were closed for the Thanksgiving holiday.

The S&P/TSX composite index .GSPTSE was up 110.25 percent, or 1.28 points, at 8,753.77, with six of its 10 main groups higher.

The market is ignoring relative softness in commodities and there is likely some short-covering going on, said Douglas Davis, chief executive at Davis-Rea.