After opening on a strong note at 16,687.32, the Bombay Stock Exchange Sensitive Index, or Sensex, remained firm after data showed an increase in industrial production, the news of Ambani brothers' clash resolution attempt and sustained buying interest.

For August 2009, the IIP (Index of Industrial Production) surged 10.4% as compared to 6.89% during the previous month.

The Sensex closed the day at 17,026.67 after gaining 384 points (2.31%). Nifty hit the 5,000 level and touched an intraday peak of 5,068.05. But finally it marked its closure at 5,054.25, up 109 points.

Out of 2,829 shares traded on BSE, 1,627 went up, 1,108 descended and 94 remained unchanged on the BSE.          While commenting on the stock market viewpoint for tomorrow, Alex Mathew head, research centre - Geojit BNP Paribas Financial Services stated that they anticipate further uptrend in the coming days that may take the broad-based Nifty in the direction of 5,150.

At this (5,150) level, the support for Nifty is placed at 5,000, he said.

Talking about the market's performance on Monday, Mathew said that Nifty belled the day with a minor gap with Reliance packs heading the rally, with slight profit booking witnessed during noon trading.

"We had seen a huge rally after the IIP data`s arrival, which was above the market expectation. The number was fantastic, especially in Consumer Durables sector. The firm European market also sparked the uptrend. Participants were covering shorts above 5050, which was the major hurdle on North. The typical market movements are suggesting institutional investor's appetite for Indian equities. The weakness of dollar against rupee is also supporting the inflows. A part of the investors is on the feeling that the ongoing rally to continue until Nifty reaches 5,500; before the year end," he added.