Mumbai, July 8 -- Indian markets opened on a weak note on Wednesday as oil prices surged on renewed escalations in the US-Iran conflict. Both the benchmark indices opened with a gap-down with most sectoral indices trading in the negative territory.

Sensex opened at 77,816.45 as against the previous close of 78,180.72. Nifty opened at 24,259.55 as against previous close of 24,398.70. At the time of writing this article, Sensex was trading at 77,815.77, down 364.95 points or 0.47 per cent while Nifty was trading at 24,279.05, down 119.65 points or 0.49 per cent.

Sectorally, most indices traded in the red with Nifty Oil & Gas emerging as the major laggard, dropping 1.34 per cent in the early morning trade while Nifty Pharma and Healthcare ...