Indian equities traded higher on Monday erasing earlier losses. The Nifty was trading above 1-month high. The Sensex was trading up 673.25 points or 2.11% at 31,987.57.  Meanwhile, the Nifty was trading higher by 201.60 points or 2.20% at 9,356 with 47 components gaining.

Axis Bank (5.37%), Kotak Bank (4.70%), Bajaj Finance (4.15%) and H D F C (3.46%) were top gainers in the 30-share index.

Power Grid (0.03%) was the only loser in BSE Sensex.