Closing bell: Sensex gains 491 points to end at 58,410; Nifty above 17,300

Closing bell: Sensex gains 491 points to end at 58,410; Nifty above 17,300

Indian shares erased early losses to rise on Monday, as bank and automobile stocks gained, news agency PTI reported.

People watch the Sensex on a screen outside Bombay Stock Exchange (BSE) in Mumbai. (PTI File Photo)

The NSE Nifty 50 index closed 0.73% higher at 17,311 and the S&P BSE Sensex advanced 0.85% and ended session at 58,410.98.

Meanwhile, in broader Asia, equities slipped on Monday following another drubbing for Wall Street, as investors braced for a further drastic tightening in global financial conditions.

With PTI inputs