Sensex jumps 700 points in opening trade, Nifty above 14,700

Indian indices opened over a percent higher on Monday recovering from the previous session's massive selloff. The gains were on the back of a rally in global markets as bond markets calmed a bit after last week's spike. Domestically, the markets witnessed broad-based buying across all sectors led by auto, banks, and energy.

After bond markets have calmed and Asian indices are trading higher, Indian indices are trading higher after a massive rout of over 1900 points on the Sensex on Friday. At the open, Nifty was higher by 180 points at 14700, while Sensex was up 595 points. About 1297 shares have advanced, 199 shares declined, and 78 shares are unchanged.

In early trade, top Nifty gainers have been ONGC, UltraTech Cement, Power Grid, UPL, Tech Mahindra, while laggards include Bharti Airtel, Hindalco. Only Bharti Airtel and SBI Life were in the red in the opening deals.

Today, auto stocks will also be in focus as the auto majors are due to announce their sales figures today.