Indian equity benchmarks Sensex and Nifty surged in early trade on Thursday, propelled by a rally in blue-chip banking stocks and a positive trend across Asian markets. The 30-share BSE benchmark Sensex saw a sharp rise, jumping 425.5 points to reach 78,898.37, while the NSE Nifty gained 123.85 points, standing at 23,851.50.

As per PTI reports, the rally was led by prominent banking stocks, with heavyweights such as State Bank of India, Axis Bank, ICICI Bank, and HDFC Bank among the major gainers. Other stocks from different sectors like Maruti, Mahindra & Mahindra, and Power Grid also witnessed positive momentum. These blue-chip stocks were seen to be the key drivers behind the early surge in the markets.