The benchmark BSE Sensex Wednesday rose 192 points to its highest in near one-month at 27,837.21, as blue-chips HDFC, Wipro and TCS gained on resumption of buying by foreign investors amid prevailing rate cut hopes.

Sentiment was boosted on reports that foreign funds, which have been selling in the past several sessions, made purchases in Tuesday’s trade, equity brokers said.

The 30-share Sensex commenced the day higher at 27,749.30 and advanced to touch the day’s high of 27,903.01.

However, profit-booking at higher levels in some counters, trimmed some gains. The index finally settled higher by 191.68 points or 0.69 percent at 27,837.21, a level last seen on 22nd April.

The broad-based 50-issue Nifty recaptured the 8,400-level by closing 57.60 points or 0.69 percent higher at 8,423.25. It shuttled between 8,440.35 and 8,391.45 during the session.

Forecast of a timely monsoon, coupled with the government containing fiscal deficit at 4 percent of the GDP for 2014-15 and continuing hopes of an RBI rate cut were other positive factors, brokers added.

Small-cap index also ended higher by 0.17 percent, while mid-cap index eased by 0.24 percent.

Meanwhile, FIIs bought shares worth Rs 48.06 crore in yesterday’s trade as per provisional data.

Globally, a mixed trend was seen in other Asian markets, while European markets were mostly positive.