Toronto stocks closed lower Tuesday as traders moved to lock in profits on technology shares following a disappointing revenue outlook from cellphone giant Nokia. The S&P/TSX composite index closed down 39.50 points at 7,596.51.

Nortel Networks lost some of its recent gains, shedding 65¢ to $5.60 on a volume-leading 99 million shares.

Research In Motion bucked the down trend in technology stocks, soaring 21.7% to $47.16 after the maker of BlackBerry e-mail device said on Monday that second-quarter results will come in better than forecast.

Among the session’s winners, gold shares climbed 1.32% as bullion prices climbed US$6.60 to US$383.10 an ounce.

Health care issues rose 2%.

In other earnings news, Sobeys shares fell $4.54 to $32 after it reported lower than expected results and reduced its 2003 forecasts.

The junior S&P/TSX Venture composite index rose 16.19 points to 1,362.17.

In New York, the Dow Jones industrial average closed down 79.09, at 9,507.20.

The broader market also finished lower. The tech-heavy Nasdaq composite index fell 15.19 to 1,873.43. The S&P 500 declined 8.47 to 1,023.17.