Toronto stocks rallied Wednesday as investors reacted favorably to higher resource prices and the U.S. Federal Reserve’s decision to leave interest rates unchanged.

The S&P/TSX composite index gained 146.11 points, or 1.20%, to 12,341.65.

Eight of the 10 TSX main sub-groups were up, with the energy group spiking 2.23%.

The U.S. central bank elected to leave the overnight rate at 5.25% and indicated the U.S. economy remained essentially in good health.

Light, sweet crude for December delivery closed up $2.05 at US$61.40 a barrel on the New York Mercantile Exchange.

EnCana Corp. gained 95¢, or 1.77%, to $54.70.

The financials sector was up 0.71%. ING Canada moved up 73¢, or 1.29%, to $57.50.

The materials index gained 2.24%, while the gold sub-sector shot up 3.28%.

The December delivery gold contract ended up $3.20 at US$590.80 an ounce on the Nymex.

Yamana Gold Inc. gained 26¢, or 2.43%, to $10.95.

The Canadian dollar was down 0.01 of a cent to US88.83¢.

The S&P/TSX Venture composite indexlifted 35.08, or 1.42%, to 2,514.04.

In New York, investors were cautiously optimistic after taking in the Fed’s announcement.

The Dow Jones industrial index closed up 6.80 points at 12,134, hitting a record high of 12,148 during the session. The Nasdaq composite index moved up 11.75 points at 2,356.59 while the S&P 500 gained 4.84 points at 1,382.22.