Markets are holding to yesterday’s strong gains today. At midday, the TSE 300 is up 23 points to 7,643.

Volume is robust at 106.4 million shares, with buyers outpacing sellers by almost two to one.

The split between winners and losers is much closer, with gainers holding a slight edge.

Techs are leading the way higher again today, as bullish sentiment in that sector is trumping some weaker economic data in the United States.

Just over half to the TSE’s groups are up. But energy stocks are down on uncertainty about production cuts, and utilities are also sliding. Most of the other moves are modest.

Nortel Networks is powering the techs higher, just like the good old days. It is up more than 5% today on strong volume of about 10.3 million shares.

Its partner in crime, Celestica, is more or less flat, and names such as Geacand Exfo Electro are sliding. But there are gains in Mosaic Group, Hummingbird, Microcell, Research in Motion, Cell-Loc, Westport and 724 Solutions.

Other gainers include Bombardier and Sears Canada.

Financial stocks are offering a mixed message. Bank of Nova Scotia is up after yesterday’s record earnings. But both Royal Bank and Bank of Montreal are down in active trading.

National Bank reported that it earned $142 million in the fourth quarter, including income before discontinued operations and good will charges of $163 million and return on equity before of 17.2% up from 14.9% for the corresponding quarter of 2000.

On the downside, energy plays are leading the way. Stocks such as TransCanada Pipelines, Petro Canada, Suncor, Alberta Energy and Rio Alto are all down.

Losers also include BCE, Cott and Cognicase. Cognicase has agreed to a bought deal with a syndicate of underwriters led by CIBC World Markets Inc., for four million shares at $10.10 per share, to raise gross proceeds of $40.4 million. Closing is expected on December 21.

In other news, Hudson’s Bay has received acceptance by the Toronto Stock Exchange of its planned 3.5 million share buyback.

On Wall Street, stocks are also clinging to modest gains, overcoming disappointing productivity data. The Dow Jones industrial average is up 29 points to 10,143. The Nasdaq composite has added six ticks to 2,053. The S&P 500 is flat at 1,170.

The CDNX index is up 20 points to 3,123. Volume is heavy at 17.2 million shares.

Oils and techs are up, but mines are down. Jannock Properties is the top trader, up 3% to $1 on 628,700 shares.