Closing bell: Sensex gains 499 pts, Nifty settles at 23,753

Indian shares rebounded sharply on Monday after five days of crash as investors took to value buying at lower levels amid positive global cues.

The BSE benchmark Sensex rose by 498.58 points, or 0.64%, to close at 78,540.17. During the day, it soared by 876.53 points, or 1.12%, reaching 78,918.12. The NSE Nifty climbed 165.95 points, or 0.70%, to settle at 23,753.45.

Among the 30 blue-chip stocks on Sensex, ITC, Tech Mahindra, HDFC Bank, Reliance Industries, IndusInd Bank, Titan, State Bank of India, and ICICI Bank were the biggest gainers. ITC continued to attract buyers ahead of the record date for the demerger of its hotel business.