Market Wrap, June 10: Here's all that happened in the markets today

The domestic equity market ended Wednesday's volatile session in the positive territory, supported by last-minute buying in counters such as Reliance Industries (RIL), HDFC, TCS, ICICI Bank, and IndusInd Bank. 

The S&P BSE Sensex ended the day at 34,247.05, up 290 points or 0.86 per cent with IndusInd Bank (up nearly 8 per cent) being the top gainer and Hero MotoCorp (down nearly 4 per cent) the biggest loser. 

NSE's Nifty ended at 10,116, up 69.50 points or 0.69 per cent. Of 50 constituents, 28 advanced and 22 declined. India VIX, the volatility gauge, slipped nearly 3 per cent to 29.35 levels. 

Meanwhile, traders also awaited the outcome of the US Federal Reserve's two-day rate-setting meeting, due later in the day. The Fed's statement on the economic outlook is expected to be a key factor in swaying investor sentiment for the next few days.

Global markets

World stock markets hovered below three-month highs on Wednesday, while the dollar stumbled ahead of a meeting of the US Federal Reserve. 

European stock markets gained 0.8% in early trade, but held below three-month highs. MSCI’s broadest index of Asia-Pacific shares outside Japan, which has galloped 9 per cent higher in June and is 35 per cent above March lows, rose 0.4 per cent. Japan’s Nikkei added 0.15 per cent.

In commodities, oil fell more than 1 per cent towards $40 a barrel after a report showed a rise in crude inventories in the United States, reviving concerns about oversupply and weak demand due to the coronavirus crisis.

The report from the American Petroleum Institute, an industry group, said crude stocks rose by 8.4 million barrels, rather than falling as analysts forecast.