Equity indices rebounded sharply on Monday, surging nearly 2%, on heavy buying in Reliance Industries Ltd (RIL) and a rally in Asian markets. The 30-share Sensex jumped 1,240 points to settle at 71,941 and the Nifty climbed 385 points to 21,737.

Investor sentiment turned positive amidst the positive global cues as Asian markets witnessed a rally. The buying momentum was also supported by strong performances in RIL shares, which gained more than 4% on Monday. RIL, being one of the heavyweights in the Index, played a crucial role in boosting the overall performance of the equity market.

The Nifty also witnessed a substantial climb, reaching the 21,737 mark, driven by strong buying activity across various sectors. Notable stocks that were in focus included Azad Engineering, which gained prominence due to recent developments in their business activities.

Overall, the market displayed a significant rebound on Monday, evidencing bullish sentiments. Optimism among investors was also reflected in the rising value of other Asian markets, reinforcing the positive trend in the equity indices.

In conclusion, the surge in equity indices can be attributed to heavy buying in RIL and the rally in Asian markets. This positive momentum is indicative of the favorable investor sentiment and portrays the overall positive trend in the equity market.