Indian stock market remained bullish on Monday following strong employment growth figures announced in the US on Friday. Easing of concerns around manufacturing and strong outlook for domestic companies also catapulted the market to close at a 31month-high level.

The 30-scrip Bombay Stock Exchange benchmark index Sensex advanced 338.62 points to end the day at 18,560.05, a level last witnessed in February 2008, after scaling a peak of 18,600.30 during the day.

On the other hand, the 50-stock based NSE Nifty rose 97.5 points to settle at 5,576.95 points.

Another major reason for the day's Sensex rally was investor's buying interest in four biggest stocks, Reliance Industries, Infosys, Tata Steel and ICICI Bank. Combined together these companies carry 32 per cent weightage among Sensex constituents.

While RIL moved Rs.27.60 to Rs.953.20 per share, Infosys rose Rs.59.85 a share to Rs.2,831.50, ICICI Bank advanced Rs.38.05 to shut shop at Rs.1,037.70 and Tata Steel climbed Rs.35.65 to Rs.575.60 per share.

Among sectoral indices BSE metal did well with a rise of 3.47 per cent. At close the index was at 15,878.80 points. BSE Bankex too performed well. It shot up 2.06 per cent to close the day at 12,728.73 points.