New Delhi, Aug. 5 -- The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Wednesday, August 5, supported by positive global cues and a sharp decline in crude oil prices.

Gift Nifty trends also pointed to a gap-up opening for the domestic benchmark indices. The Gift Nifty was trading around 24,733, a premium of 177.4 points over the previous close of the Nifty futures.

In the previous session, the Indian stock market ended in the red, with both benchmark indices extending their losses. The BSE Sensex declined 210.08 points, or 0.27%, to close at 78,428.95, while the Nifty 50 fell 159.40 points, or 0.64%, to settle at 24,614.90, though it managed to close above the 24,600 mark.

Crude oil prices ext...