Toronto stocks moved higher Thursday, despite weakness in the energy sector due to the tumbling price of oil, as investors bought into the materials sectors and the technology and telecommunications issues.

Meanwhile, the Dow Jones hit a record close on lower oil prices and investor enthusiasm over the U.S. economy’s continued strength.

The S&P/TSX composite index gained 62.35, or 0.50%, to 12,519.90.

Nine of the 10 TSX main sub-groups were up, with only the energy sector, down 0.53%, falling.

Light, sweet crude futures closed $2.14 lower at US$51.88.

Pengrowth Energy Trust units fell 16¢, or 0.84%, to $8.86.

The materials sector gained 1.13%, while the gold sub-sector lifted 0.53%.

Gold futures gained 50¢ to US$613.90 an ounce.

Alcan Inc. rose $1.98, or 3.59%, to $57.10.

The information technology sector gained 0.38%, while the telecommunications sector lifted surged ahead 1.79%.

Nortel Networks gained 53¢, or 1.74%, to $30.98.

The Canadian dollar closed down 0.03 of a cent at US84.99¢.

The S&P TSX Venture composite index gained 27.85 points, or 1.01%, to 2,794.30.

In New York, markets moved higher on a strong day among tech firms and enthusiasm over the economy overall.

The Dow Jones industrial average gained 72.82 points, or 0.59%, to 12,514.98, the Nasdaq moved ahead 25.52, or 1.04%, to 2,484.85, and the S&P500 gained 8.97, or 0.63%, to 1,423.82.