Bulls continued their domination on Monday as well. Stock markets gained further ground on Monday, but ended off the higher levels on selling pressure in select blue-chip stocks. Pharma and heavyweight stocks, however, helped the market to settle at its new 15-month high and cross the 3,600 level.Recording its fourth straight rise, the Sensex ended 24.07 points higher at 3,607.13, its best close since 18 March 2002. The NSE, S&P, CNX, Nifty Index gained 8.60 points to close at 1,134.15.The undertone of the market remains optimistic on the back of signs of improvement in economy. Outsourcing stories have lifted stocks in sectors like auto-ancillaries and pharmaceuticals. The 2002-03 results of companies in old economy sectors like cement, steel, banking and automobiles have been impressive. These factors, combined with sustained inflows from foreign funds, have helped Sensex gain nearly 700 points, or 24.2 per cent, from its recent low of 2,904.04 touched on April 28. Apart from pharma and heavyweight stocks, tech pivotals ended higher on expectations of improved results (barring Infosys Technologies). Non-Sensex pharma stocks were in the limelight on sustained buying support. Profit-booking was witnessed in select stocks at higher levels towards the close of the session.
