Nifty, Sensex close higher ahead of PM Modi’s swearing-in ceremony

Indian shares closed higher on Thursday, with NTPC Ltd and Yes Bank Ltd leading gains on the day of monthly derivatives contracts’ expiry.

During the session, the NSE Nifty climbed 1% as investors awaited announcement of a new cabinet at Prime Minister Narendra Modi’s swearing-in ceremony.

Indian equities have witnessed a rally over Modi’s landslide victory in the general election last week. He will be sworn-in for a second term later this evening and is expected to announce names for key ministries.

The benchmark BSE Sensex closed 0.84% firmer at 39,831.97, while the broader NSE Nifty ended 0.71% higher at 11,945.90.

NTPC’s shares ended 3.32% up, while Yes Bank settled 2.34% higher.