How did the Sensex and Nifty manage a smart close on 10 June?

After correction in the stock market indices on Tuesday, Sensex bounced back by 300 points on Wednesday ahead of the weekly options expiry and also the Fed statement on late Wednesday night. Stocks like RIL and some of the key banking stocks rallied the markets. With Nifty topping the 10,100 mark, the immediate risk of breaking below the 10,000 mark may not be too serious. However, the real challenge for the Nifty could be breaking 10,400 on the upside before any signs of uptrend can resume. The markets were buoyed by positive global cues. The time table to open up the Indian economy was also a positive.