The Toronto stock market endured a volatile session, but closed only moderately changed as investors reacted to the U.S. Federal Reserve’s decision to hold the line on rates.

The Fed announced that it would leave the key overnight rate at 5.25%, while noting that inflation remained its primary policy worry.

In Toronto, the S&P/TSX composite index closed down 4.79, or 0.04%, to finish at 13,560.45, with a strong day in financials mitigating most of the losses in the resource sectors.

The market reached a low of 13,450.69 shortly after the Fed’s afternoon announcement, only to hit a rebound peak of 13,627.94 soon after that, before settling back little changed from yesterday’s close.

Six of the 10 TSX main sub-groups were down.

The energy index fell 1.65% despite a modest gain in the price of oil.

Light, sweet crude for September delivery ended up 14¢ to US$72.20.

Husky Energy Inc. fell 67¢, or 1.65%, to $39.90.

The materials index fell 0.13%, with the gold sub-sector dropping 1.32% in reaction to a drop in the price of bullion.

Gold futures fell $1.00 to US$682.30.

Goldcorp Inc. edged down 1¢, or 0.04%, to $25.99.

Financials shot ahead 1.37%.

Royal Bank of Canada gained 60¢, or 1.12%, to $54.10.

The junior S&P/TSX Venture composite index tumbled 78.07 points, 2.53%, to 3,003.47.

The Canadian dollar was up 0.09 of a cent to US94.92¢.

In New York, markets finished higher as investors flocked back into the market after an initial sell off following the Fed announcement.

The Dow Jones industrial average gained 35.52 points, or 0.26%, to 13,504.30, the Nasdaq composite index moved up 14.27, or 0.56%, to 2,561.60, and the S&P 500 lifted 9.04, or 0.62%, to 1,476.71.