Toronto stocks sank Monday, as deep drops in the resource sectors, fuelled by falling commodity prices, more than offset gains in technology issues.

The S&P/TSX composite index fell 213.02 points , or 1.79%, to 11,656.57.

Six of the 10 TSX main sub-groups were down, with the energy sector falling 3.95%.

The benchmark October contract for light, sweet crude fell 64¢ to close at US$65.61 a barrel.

EnCana Corp. lost $2.18, or 3.92%, to $53.39.

The materials sector lost 5.57%, while the gold sub-index divided 7.81%.

The December gold futures contract fell $20 to US$597.30 an ounce.

Glamis Gold lost $4.86, or 9.60%, to $45.75.

The information technology sector gained 1.64%, while the telecommunications services index gained 5.64%.

Nortel Networks gained 15¢, or 6.28%, to $2.54.

Telus Corp. gained $7.25, or 13.80%, to $59.80 as the firm announced its intention to turn itself into an income trust.

The Canadian dollar was down 0.1 of a cent to US89.17¢.

The S&P/TSX Venture Exchange index lost 113.39 points, or 4.17%, to 2,604.43

In New York, markets were marginally up as investors were cautiously optimistic about falling commodity prices.

The Dow Jones industrial average gained 4.73 points to 11,396.84, the Nasdaq composite index moved up 7.46 points at 2,173.25, while S&P 500 ended essentially flat, gaining 0.62 of a point to close at 1,299.54.