MUMBAI, 29 JUNE: Shares flared up on smart rebound in rupee value coupled with steep hike in gas prices amid hopes the US Fed will delay tapering monetary stimulus as the S&P BSE benchmark Sensex spurted 622 points to end at a three-week high of 19,395.81 points. Hectic short-covering activity during the week in view of expiry of derivatives contract on 27 June also boosted the market, which snapped a three-week losing streak and posted handsome gains.
In a major step forward in energy sector reforms, the Centre on Thursday approved near doubling of natural gas prices to $8.4 per mmBtu from 1 April next year and okayed setting up of a coal regulator. pti