Stocks in Toronto closed higher today. The Toronto Stock Exchange composite index added 65.34 points today, finishing the day at 7,661.40. Market strength was broadly based. Nine of the 10 exchange’s sub-groups finished higher.

Health care stocks rose 1.85% led by Biovail’s $155 million acquisition of the U.S. rights to drugs designed to treat hypertension and congestive heart failure from industry giant Merck & Co. Biovail added $3.40 at $55.30.

The information technology sub-group finished 1.61% higher in the face of another decline by Nortel Networks. The company lost 21¢, dropping to $4.03, after the company announced it’s intention to raise $2.5 billion of through new debt and equity issues.

But other tech stocks gained. Sentiment in that sector was boosted by a positive report about chip-manufacturing equipment maker Applied Materials. That company is scheduled to report its quarterly results after Tuesday’s closing bell. Investors are also still glowing from a positive report from Cisco Systems, last week. Celestica Inc. added $2.85, climbing to $45.80. Research In Motion rose $1.30 to $24.95.

Energy stocks had a strong day in light of an announcement that Canadian Natural Resources has undertaken a $2.4 billion takeover of Rio Alto Exploration. Canadian Natural finished down $1.25 at $50.95 but Rio Alto added $2.90 to $18.85. Paramount rose $1.55 to $15.20. Summit gained $1.12 finishing at $7.33.

Toronto’s blue-chip S&P/TSE 60 index rose 3.28 points to close at 431.85.

The S&P/CDNX Composite Index closed up 0.31 at 1167.29. Trading was active on a volume of 32.6 million shares worth 14.0 million dollars, with 205 advances, 229 declines and 512 issues unchanged.

South of the border, stocks rose sharply. The Dow Jones industrial average rose 169.74 points to 10,109.66. The NASDAQ composite added 51.69 points to finish at 1,652.54.