Markets@11: Sensex crosses 82,000; markets back Reliance-Disney merger

The Indian stock markets, which started the day on a lower note, experienced volatility before eventually turning bullish. The Nifty surged past 25,100, while the Sensex crossed the 82,000 mark.

In the morning, sectors like metals, pharmaceuticals, healthcare, and oil & gas saw declines. However, banks, financial services, and media sectors were leading the gains.

Reliance's shares initially rose to ₹3,010, following approval of its alliance with Disney, but then slipped into losses before recovering later. Reliance's media subsidiaries, TV18 Broadcast and Network18 Media saw a significant rise of around 11%.

Sonata Software shares climbed by nearly 8% after reports of a contract for IT outsourcing.

Genus Power saw a 5% increase after securing a major power project contract.

Rupee gains

The rupee gained in the morning, opening at ₹83.92 per dollar after a 3 paise drop in the dollar value. The rupee later strengthened to ₹83.88 due to a dip in the dollar index.

Gold prices surged to $2,515 in the global market, with the price in Kerala holding steady at ₹53,720 per sovereign.

Crude oil prices showed a slight increase, with Brent crude rising to $78.74 per barrel.