Toronto stocks posted healthy gains Thursday, as bargain hunting spurred a broad-based rally. The S&P/TSX composite index closed up 125.43 points at 6,612.16.

Market volume was a light 131.1 million shares traded. Market advancers outnumbered decliners 564 to 430.

Investors shrugged off news that the Ivey index of Canadian factory material buying fell 10 points to 46.5. Analysts had expected a reading of 53.

The information technology group surged 3.9%, as optimism was boosted by strong earnings from U.S. network equipment maker Cisco Systems.

Celestica jumped $2.05 a share to $31.90, while wireless manufacturer Research In Motion rose 86¢ to $16.36.

Financial stocks rose 1.71 %, led by Manulife Financial, up $1.10 to $38.90, and Royal Bank, which rose 85¢ to $54.35.

Every sector but golds advanced. The healthcare index rose 4.14%; energy stocks added 3.63%.

Suncor rose $2.18 to $27.40 a share, while Precision Drilling rose $1.87 to $45.50. EnCana added $1.15 to $45.50.

Notable gainers included Gildan Activewear, which climbed $2.43 to $32.99.

Canadian Tire gained $1 to $30.65 after it reported higher earnings.

It wasn’t all good news, though. CAE shed $1.12 to $7.76.

Hudson’s Bay Co. shed another 51¢ to $8.74. The retailer issued a profit warning on Wednesday.

The S&P 500 index was up 28.67 points at 905.44.

In New York, bank stocks benefited from the US$30 billion bailout package for Brazil by the IMF. The Dow Jones industrial average soarted 255.87 points to 8,712.02.

Tech stocks led the Nasdaq to a 35.60-point jump to close at 1,316.50. The S&P 500 index was up 28.67 points at 905.44.

The Canadian dollar fell a tenth of a cent to US63.31¢.