TORONTO (Reuters) - The Toronto Stock Exchange's main index plunged again yesterday as resource stocks were pressured by falling commodity prices on concerns global economic weakness would cut demand.

The tumble chipped away at big gains made Tuesday when the benchmark index logged a record 9.82 percent rise on hopes that moves by policy-makers around the globe would help fix the financial crisis.

The S&P/TSX composite index closed down 631.83 points, or 6.35 percent, at 9,323.83, with all but one of its 10 main groups lower. The consumer staples group rose 1.4 percent.

The heavily-weighted energy sector led the way down, dropping 11.8 percent as US crude plummeted $4.09 a barrel to settle at $74.54 a barrel on recession fears.

EnCana Corp dropped 12.8 percent to C$44.30 after it said it would delay its plans to split into two independent energy companies, citing volatility in global financial markets.

Base metals prices also weighed on the benchmark index, helping to push the materials sector down by 9.7 percent, while bullion was slightly higher.

Genuity Capital Markets cut its price targets on several Canadian gold producers including Barrick Gold and Goldcorp, and it also raised its ratings on Agnico-Eagle Mines, Eldorado Gold and Alamosto "buy" from "hold".

The gold subindex was down 7.7 percent.

Also lower were heavyweights Potash Corp of Saskatchewan , down 17.5 percent to C$92.57, and Agrium Inc , which fell 12.6 percent to C$40.90.