Toronto stocks dipped lower Wednesday, as higher commodities prices were offset by losses in the technology sector, and as the market took in an interest rate hike by the U.S. Federal Reserve.

The S&P/TSX composite index was down 11.90, or 0.10%, to 12,316.31.

The U.S. central bank boosted its key rate a quarter point to 5%, its 16th-straight hike.

The information technology sector dropped 1.71%.

Research in Motion Ltd. fell $3.00, or 3.57%, to $81.

Meanwhile shares in CryptoLogic Inc. gained 63¢, or 2.20%, to $29.25 after the gambling software company said its first-quarter profit spiked 58%. It also announced a deal that would see Playboy use its software for a new casino website.

The materials sector fell 0.42% even though gold futures finished up $4.20 at US$705.70 an ounce.

Barrick Gold Corp. moved up 20¢ to $38.65.

The energy sector was up 0.10%. Crude oil for June delivery gained $1.44 at US$72.13 a barrel, despite a U.S. inventory report that indicated a modest increase in supplies, as geopolitical stability concerns continued to boost prices.

Petro Canada finished up 23¢ to $52.93

The Canadian dollar moved up 0.08 of a cent to US90.95¢.

The S&P/TSX Venture Exchange index finished up 20.54, or 0.63%, to 3,271.57.

In New York, markets were mixed as investors, absorbing today’s interest rate hike by the U.S. central bank, were left in doubt about the Fed’s future direction on rates.

The Dow Jones Industrial Average closed up 2.88 points at 11,642.65, the Nasdaq Composite Index finished down 17.51 points at 2,320.74, while the S&P 500 Index fell 2.29 points to 1,322.85.