Equity benchmark indices began the trade on a buoyant note on Monday, helped by buying in blue-chip HDFC Bank, but later gave up all the initial gains amid a sharp fall in Kotak Mahindra Bank and unabated foreign fund outflows.

The BSE Sensex jumped 545.27 points to 81,770.02 in early trade. The NSE Nifty climbed 124.25 points to 24,978.30.