Toronto stocks rallied Wednesday as commodity prices rebounded and investors bought back in after significant recent losses.

The S&P/TSX composite index moved up 98.29, or 0.84%, to 11,777.20.

Six of the 10 TSX main sub-groups were up, with the energy sector rebounding 2.49% after several sessions of pullbacks.

The October contract for light, sweet crude closed up 21¢ at US$63.97 a barrel.

EnCana Corp. gained $1.36, or 2.59%, to $53.97.

The gold sub-sector gained 0.46%.

Gold for December delivery closed up $2 at US$596.30 an ounce.

Bema Gold Corp. gained 11¢, or 2.14%, to $5.26.

The Canadian dollar fell 0.07 of a cent to close at US89.26¢.

The S&P/TSX Venture composite index picked up 4.08 points, or 0.16%, to 2,605.55.

In New York, markets moved higher on stronger corporate reports and investor optimism over the domestic economy.

The Dow Jones industrial average closed up 45.23 points at 11,543.32, the S&P 500 rose 4.96 points to 1,318.07, and the Nasdaq composite index gained 11.85 points to 2,227.67.