Canadian stocks bounced back with a hefty gain of more than 450 points on Tuesday, following their biggest drop in almost eight years on Monday.

The S&P/TSX composite index soared 467.83 points, or 4.15%, to close at 11,752.90.

The energy group experienced a generous 5.8% gain, helped by oil futures that regained almost half of Monday’s loss. Crude oil for November delivery closed at US$100.64 per barrel on the New York Mercantile Exchange, up US$4.27, or 4.4%.

Shares of Canadian Natural Resources also regained some of the prior day’s losses, rising 11.8% to close at $73.

Other big gainers in the group included InterOil Corp., which saw its shares soar 14% to close at $28.52, and Nexen Inc., whose shares gained 10.27 % to close at $24.70.

The TSX financials subindex grew 5.38%, led by an 8.3% rise in shares of Fairfax Financial Holdings Ltd., which closed at $341.14. Shares of the big banks also experienced sizable gains, including a 6.3% boost for Royal Bank of Canada shares, which closed at $50.50, and a 6.7% increase for TD Bank Financial, with its shares closing at $64.08.

Gains outweighed losses in the materials group, which increased 0.74% on Tuesday. This included a 10.3% boost for units of Fording Canadian Coal Trust, which closed at $87.27.

Some gold companies weren’t so lucky, as gold futures fell for the first time in three days. Gold for December delivery finished down US$13.60, or 1.5%, at US$880.80 an ounce on the Comex division of the New York Mercantile Exchange. Gold finished the month up 5.5%.

The subgold index lost 0.79%.

These drops were felt among such companies as Barrick Gold Corp., which closed down 3.64% at $38.97, and Agnico-Eagle Mines Ltd., which finished down 4.5% to $58.10.

It was a strong day for diversified metals companies — a group that gained 7.6%. This was helped by an 18.7% boost for First Quantum Minerals Ltd., which closed at $40.

The Canadian dollar shed more than a cent, closing at US93.97¢.

Junior companies enjoyed gains as well on Tuesday, helping the S&P/TSX Venture composite index rise 32.97 points, or 2.39%, to close at 1,415.

Stocks south of the border also moved higher on Tuesday as investors hunted for bargains following yesterday’s crash. The Dow Jones industrial average gained 485.21 points, or 4.7%, to 10,850.66.

The S&P 500 index rose 58.32 points, or 5.3%, to close at 1,164.74, while the Nasdaq composite index climbed 98.6 points, or 5%, to finish at 2,082.33.