TORONTO (Reuters) - The Toronto Stock Exchange's main index charged higher yesterday, shrugging off early losses, as resource shares were boosted by new highs from oil and gold prices.

The energy and materials sectors, which combined make up about 40 percent of the index, gained 0.9 percent and 1.2 percent respectively, taking their cue from underlying commodity prices.

Oil hurtled to a record $101.31 a barrel, spurred by concerns over supply from OPEC.

Crude closed at $100.74, the top settlement on record.

On Bay Street, Canadian Natural Resources was up C$1.30, or 1.9 percent, at C$69.35, and Suncor Energy added C$1.01, or one percent, to C$100.60.

Gold prices also followed oil's momentum to hit a high of $943.20 an ounce before stepping back to $934.80.

The gold-producers subindex rose 1.2 percent, with Centerra Gold gaining 29 Canadian cents, or 2.1 percent, to C$14.04.

Also in the resources space, Agrium Inc climbed C$2.43, or 3.5 percent, to C$71.43.

The S&P/TSX composite index closed up 103.95 points, or 0.77 percent, at 13,551.69 with seven of its 10 main groups in positive territory.

Canadian Pacific Railway Ltd also helped pull the index higher after it said it will appeal a grain rate ruling by the Canadian Transportation Agency that could take a bite out of its earnings for 2008.

CP rose C$1.57, or 2.2 percent, to C$73.26. Canadian National Railway Co , which also said it will appeal the decision, was up 68 Canadian cents, or 1.3 percent, at C$53.15.

Shares of TransAlta Corp added 76 Canadian cents, or 2.2 percent, to C$35.41 after it said it has sold its Mexican power plants for $303.5 million.

On the downside, home improvement retailer Rona Inc. was among the biggest drags on the benchmark, shedding 94 Canadian cents, or 5.8 percent, to C$15.41 after reporting a drop in profit.