Toronto stocks surged Tuesday, despite a drop in the price of oil, as the materials index, financials sector, and the information technology group led the broader market higher.

The S&P/TSX composite index gained 95.43, or 0.72%, to 13,361.23.

Eight of the 10 TSX main sub-groups moved higher.

The materials sector gained 1.76%, while the gold sub-index lifted 1.70%.

Gold moved down $1.80 to close at $669.70 an ounce.

Barrick Gold Corp. gained 54¢, or 1.63%, to $33.76.

The energy sector fell 0.23%.

Crude-oil futures dropped $1.30 to close at $64.64 a barrel

Petro Canada lost 40¢, or 0.88%, to $45.10.

The financials sector moved up 0.69%.

TSX Group Inc. gained 58¢, or 1.19%, to $49.39.

The information technology sector gained 1.06%.

Research in Motion Ltd. gained 4.69, or 2.96%, to $163.25.

The Canadian dollar dropped 0.27 of a cent to close at US86.24¢,

The S&P TSX Venture Exchange rose 24.41, or 0.77%, to 3,214.47.

In New York, markets rallied on the lower price of oil and the easing tensions between Britain and Iran.

The Dow Jones industrial average moved up 128.00, or 1.03%, to 12,510.30, the Nasdaq gained 28.07, or 1.16%, to 28.07, 2,450.33, the S&P500 gained 13.22, or 0.93%, to 1,437.77.