Toronto stocks reversed direction to finish sharply higher on Wednesday, as energy issues rebounded on a rise in crude oil prices.

The S&P/TSX composite index gained 91.99 points, or 0.8%, to close at 11,618.12 in a broad-based advance.

That followed Tuesday’s plunge of 261.26 points.

In a turnaround from the previous session, 9 of the 10 TSX main groups finished higher.

The energy group advanced 1.6%, with Petro-Canada up 95¢ to $42.86.

The November contract for crude oil on the New York Mercantile Exchange finished up 73¢ at US$59.41 a barrel.

Today’s rise came despite a larger-than-expected rise in American crude inventories last week.

The god sector rose 1.5% even as the December bullion contract in New York fell $14.80 to US$566.70. Barrick Gold Corp. gained 64¢ to $32.60.

The tech sector also rose 2.2% as Research In Motion Ltd. shares gained $7.78 to $122.18.

The TSX Venture Exchange fell 40.23 points to 2,322.91, after plunging 90 points in the previous session.

The Canadian dollar was down 0.33 of a cent at US88.76¢.

On Wall Street, U.S. stocks continued to rally.

All three major indexes rose more than 1%, as a weaker-than-expected services report and comments from the Federal Reserve’s chairman reinforced views the Fed may hold interest rates steady.

The Dow Jones industrial reached a record close and an all-time intraday high for the second day in a row.

The Dow was up 123.27 points, or 1.05%, to close at 11,850.61. The S&P 500 was up 16.11 points, or 1.21%, at 1,350.22.

The Nasdaq composite index was up 47.30 points, or 2.11%, to end at 2,290.95.