Closing bell: Sensex witnesses 292.76-pt hike, Nifty above 10,700

Market indices ended significantly higher on Monday afternoon, owing to favourable gains in financials, metals, auto and energy stocks.

The BSE's Sensex ended 292.76 points higher at 35,208.14, while Nifty ended at 10,715.50.

The financial sector registered maximum gains, largely due to the Reserve Bank of India's (RBI) announcement of surprise buyback of bonds worth Rs 10,000 crore.

Mahindra and Mahindra, ICICI Bank and GAIL were top gainers, while Coal India, Dr Reddy's and Lupin incurred maximum losses.

Earlier in the day, the Indian rupee slipped to Rs. 67.06 in morning trade, down 20 paise from Friday's closing rate of Rs. 66.86.