Markets scale new highs

The BSE Sensex gained 0.3% to close at 31,109.28

The benchmark Nifty and Sensex clocked new record highs for a third consecutive trading session on Monday. The BSE Sensex gained 0.3 per cent to close at 31,109.28, while the Nifty advanced 0.1 per cent to close at 9,604.9. The gains were spurred by a rally in the shares of consumer goods stocks, with Hindustan Unilever gaining 3.1 per cent and ITC adding 2.4 per cent. Investors were seen lapping up consumer stocks as the tax rates under the goods and services tax (GST) are seen as favourable for these companies. A favourable monsoon outlook also added to the buoyant