Indian equity markets opened sharply higher on Monday with Sensex soaring over 700 points and Nifty crossing the 24,500 level on easing geopolitical concerns and softer crude oil prices.
Both the benchmark indices opened with a solid gap-up, with Sensex opening at 78,883.34 as against the previous close of 78,094.64 and Nifty opening at 24,572.70 as against the previous close of 24,383.60.
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The momentum was also supported by strong July auto sales, renewed foreign portfolio inflows and improving dollar liquidity.
Sensex was trading at around 78,621.23, up 526.59 points or 0.67 per cent, and Nifty was trading at around 24,553.55, up 169.95 points or 0.70 per cent at the time of reporting.
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