Indian equities bounced back smartly on Monday, with the Sensex reclaiming the 17,000 mark. The Bombay Stock Exchange sensitive index was up 235.22 points or 1.40 per cent at 17,004.33. The 30-share index touched a high of 17,023.29 after opening at 16,799.49.

National Stock Exchange's Nifty was at 5092.70, gaining 74.65 points or 1.49 per cent from the previous week's close. The 50-share index briefly touched a high of 5104.10.

The rebound follows EU leaders agreeing to a $962 billion rescue package and a program of bond purchases to stop a sovereign-debt crisis that has jolted confidence in the euro.