Technology stocks led a broad-based rally among Toronto stocks Thursday.

The TSE 300 composite Index packed on a solid 127.41 points, or 1.66%, to close at 7,774.20.

Twelve of the TSE’s 14 sub-indices posted gains, led by a 4.52 per cent jump in the tech-heavy industrial products sub-index.

Nortel Networks gained $1 to $13.32. Celestica added $4.40 to $70.20; Research in Motion climbed $3.45 to $42.50; Bombardier rose 40¢ to $17.25.

Gold stocks climbed 2.14% . Newmont Mining upped its offer in the bidding war for Australia’s Normandy Mining. Canada’s Franco-Nevada Mining, which would be acquired by Newmont if its bid for Normandy succeeds, rose 27¢ to $23.72.

Barrick Gold rose 69¢ to $26.39. Placer Dome added 75¢ to $18.35

Market breadth was overwhelmingly positive as advancing Issues stepped on decliners 660 to 414. Volume was on the light side at 134 million shares.

The S&P/CDNX Composite Index closed up 18.60 at 1,061.18. Trading was active on a volume of 31.4 million shares, with 186 advances and123 declines.

In New York, tech shares soared to a strong finish as investors were heartened by bullish comments from analysts, including a plea to buy chip heavyweight Intel.

Intel rose another US$2.52 to US$35.52, while the Nasdaq composite index cruised back over the 2000 level, rising 65.02 points, or 3.3%, to 2,044.27.

The Dow Jones industrial average closed up 98.74 points to 10,172.14. The S&P 500 added 10.60 points, or 0.9%, to 1,165.27.