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The Sensex has surged over 700 points and surpassed 77,700. Strong buying was seen in auto, FMCG and banking stocks. Both benchmark indices, the Nifty and the Sensex opened higher on Thursday. The Nifty and the Sensex gained 0.5 percent and the Nifty opened at 24,125.85 and the Sensex opened at 77,391.07. Broader markets also witnessed marginal gains, in terms of sectors, most sectors also witnessed gains in early trade and the Volatility Index declined over 2 percent.