Domestic stock markets on Monday gained further on strong global cues and hopes of economic normalisation in the country. Led by Reliance Industries shares, the benchmark Sensex jumped another 167 points, or 0.29 per cent, to an all-time peak of 58,296.91 and the Nifty50 gained 54 points, or or 0.31 per cent, to 17,377.80. The NSE volatility index, VIX, rose by 3.87 per cent.
Meanwhile, the rupee declined by 8 paise to close at 73.10 against the US dollar. “Positive global markets and strong support from IT and realty stocks, aided domestic markets to trade modestly higher. Hopes of continued economic support by the US Fed Reserve due to weak US job data and talks of more stimulus in Japan and China boosted global markets. Economic normalisation attracted buyers in realty stocks while safe haven IT stocks continued to lead the upbeat market,” said Vinod Nair, head of research, Geojit Financial Services.