Toronto stocks finished in the black on Wednesday for the first time in eight sessions, getting a lift from rebounding commodity issues. The S&P/TSX composite index gained 88.84 points, or 0.95%, to finish at 9,484.26.

Trading volume was robust at 284 million shares.

Eight of the 10 main subindexes ended higher.

Natural resources issues helped the market turn around after seven straight losing sessions, sparked by fears that prices for those commodities had peaked.

The materials group gained 2.13%, with Ivanhoe Mines Ltd. among the leaders after it announced plans to build mines and infrastructure in Mongolia. Its shares added 45¢, or 5.39%, to $8.80.

Potash Corp jumped $5.16, or 5.13%, to finish at $105.78, making it the market’s top net gainer.

Technology shares rose 3.15% after Nortel Networks set June 29 as the date for its annual meeting. Nortel shares were among the index’s most actively traded, finishing 9¢, or 2.7%, higher at $3.42.

Cognos gained $2.10, or 4.21%, to $51.93 after a newspaper report said the software maker planned to boost staff by 50% over the next three years.

The junior S&P/TSX Venture composite index continued its losing streak, slipping 11.46 points, or 0.62%, to 1,844.35. Volume was 140.6 million shares.

In New York, U.S. stocks rallied as crude oil prices fell, while tech shares got a lift from an upbeat earnings report from chip maker Micron Technology Inc.

Crude for May delivery at US$53.99 a barrel, down 24¢, after a government survey showed crude inventories rose sharply last week.

The Dow Jones industrial average was up 135.23 points, or 1.30%, to close at 10,540.93, while the S&P 500 index was up 16.05 points, or 1.38%, to end at 1,181.41. The tech-heavy Nasdaq composite index was up 31.79 points, or 1.61%, to finish at 2,005.67.