New Delhi, Jan 31 (IANS): The Indian equities opened sharply higher in early trade on Monday ahead of the Economic Survey which will be tabled in the Parliament later in the day.

The Economic Survey is an annual report card on the health of the economy which examines the performance of every sector and suggests future guidance.

Indices saw some sharp decline in the past 2-3 sessions as the US Fed's Federal Open Market Committee in its latest meeting held on Wednesday said it was ready to tighten monetary policy on concerns of inflation.

At 10.36 a.m., Sensex traded at 58,037 points, up 1.5 per cent or 837 points from the previous close of 57,200 points. It opened at 57,845 points.

Nifty traded at 17,349 points, up 1.5 per cent or 247 points from the previous close of 17,101 points. It opened at 17,301 points.

Among the stocks, Tech Mahindra, BPCL, Infosys, Wipro, and ONGC were the top five gainers in the morning session. On the contrary, IndusInd Bank and Kotak Mahindra Bank were some of the top losers.