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The market rebounded on Monday after losing more than 6 percent in previous week. The 30-share BSE Sensex surged 296.17 points or 1.29 percent to 23282.29 and the 50-share NSE Nifty climbed 97.65 points or 1.40 percent to 7078.60. The market breadth was strong as about 811 shares advanced against 168 declining shares on the BSE.

Asian markets were trading sharply higher with Japan's Nikkei surging over 5 per cent, Hong Kong's Hang Seng advanced 2.3 per cent and South Korea's KOSPI rose 1.4 per cent. On the other hand, China's CSI 300 index was down 1.7 per cent.