Closing bell: Sensex gains 491 points to end at 58,410; Nifty above 17,300

Indian shares erased early losses to rise on Monday, as bank and automobile stocks gained, news agency PTI reported.The NSE Nifty 50 index closed 0.73% higher at 17,311 and the S&P BSE Sensex advanced 0.85% and ended session at 58,410.98.Meanwhile, in broader Asia, equities slipped on Monday following another drubbing for Wall Street, as investors braced for a further drastic tightening in global financial conditions.With PTI inputs

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