The domestic equity benchmark indices were trading significantly higher in the early deals amid a sharp decline in crude oil prices on hopes of US-Iran conflict resolution and foreign fund inflows.

The 30-share BSE Sensex soared 1254.34 points or 1.62 per cent at 78,555.74 in the initial trade. The 50-share NSE Nifty surged 353.45 points or 1.48 per cent at 24,314.25 in the early trade.