The TSE 300 composite index closed up 151 points or 1.9% to 7,861.80, on continued strength from the big banks and high-tech giants such as Nortel Networks Corp. and Celestica Inc.

On Bay Street, the technology-rich industrial products subindex — home to Nortel, Celestica, Research In Motion Ltd. and ATI Technologies Inc. — jumped nearly 4% through the afternoon and was the biggest gainer among its peers.

The Dow Jones industrial average jumped 217.96 points, or 2.1%, to 10,586.82 – its highest close since July 19. Only three of the 30 stocks in the Dow average declined. The Dow has rallied 480.79 points over the past two sessions, making it the third-largest two-day rally in the Dow’s history, according to market research firm MarketHistory.com.

The broader Standard & Poor’s 500 Index added 22.06 points, or 1.95%, to 1,153.84, pulling the index into the black for the year.

The technology-laced Nasdaq Composite Index advanced 56.58 points, or 3.14%, to 1,859.32.

The S&P/CDNX Composite Index closed up 5.16 at 1131.66 Trading was heavy on a volume of 44.3 million shares, with 247 advances, 213 declines and 546 issues unchanged.