Toronto stocks moved ahead Monday, as a strong energy sector led gains across the broader market. In the U.S., markets were closed in observance of Martin Luther King Jr. Day.

The S&P/TSX composite index gained 76.55, or 0.60%, to 12,755.36. Volume was much lower than usual with a lower than usual only 195.7 million shares changing hands.

Nine of the 10 TSX main sub-groups were up, with the energy sector improving 1.66%.

Light, sweet crude for February delivery dipped by 5¢ to US$52.94 a barrel in European trading.

EnCana Corp. gained 24¢, or 0.44%, to $54.29.

The materials sector was up 0.27%, while the gold sub-sector gained 0.29%.

Algoma Steel Inc. gained 16¢, or 0.48%, to $33.35.

Information technology sector gained 0.84%.

Nortel Networks gained 34¢, or 1.10%, to $31.14.

The health care sector fell 0.52%. Pharmaceutical firm MDS Inc. fell 40¢, or 1.92%, to $20.40.

The Canadian dollar gained 0.15 of a cent to US85.71¢, while the S&P TSX Venture Exchange shot ahead 44.21, or 1.55%, to 1,892.23.