Mumbai, Aug. 5 -- Indian benchmark indices opened on a firm note on Wednesday amid positive global cues and a sharp correction in oil prices. Sensex opened sharply at 79,055.38 against the previous close of 78,428.95, rising 626.43 points, and Nifty started the session at 24,669.20 against the previous close of 24,614.90.

Brent crude fell below USD 80 per barrel and was trading at around USD 78.32 per barrel at the time of reporting, while crude oil was trading at around USD 74.55 per barrel. In the commodity market, gold was trading at around USD 4,127.74 at the same time. As per analysts, the sentiment will build around the RBI Monetary Policy Committee (MPC) meeting today.

All broad market indices traded in the green; meanwhile, buyi...