Putting its last 4 days of losing stretch behind, the benchmark BSE Sensex sprinted again, rallying 104 points to close above the 27,500 level, mostly on value-buying by participants ahead of July derivatives expiry. A likely rate hike from the US Fed this year, many experts feel, will not cause much disruptions in emerging markets, including India, which supported the upside. Besides, covering-up of short positions by speculators backed up recovery, equity brokers said. Finance Minister Arun Jaitley's reassurance that the Government will not take any ‘knee-jerk’ reaction that will adversely impact country's investment climate did its bit. Amid all this, worries over subdued corporate results so far remained.
The barometer touched a high of 27,609.29 before closing at 27,563.43, up 104.20 points, or 0.38%. In the past straight four sessions, the Sensex had plunged 1,045.70 points. The NSE Nifty also signed off higher by 38.05 points, or 0.46%, at 8,375.05.