Indian shares end higher, NTPC top boost

Indian shares settled higher on Monday, led by a surge in state-run power major NTPC Ltd , as Prime Minister Narendra Modi’s assurance on mass production of Covid-19 vaccines and more infrastructure spending by the government boosted investor sentiment.

The NSE Nifty 50 index ended 0.61% higher at 11,247.10, while the S&P BSE Sensex rose 0.46% to 38,050.78.

“Along with mass production, the roadmap for distribution of vaccine to every single Indian in the least possible time is also ready,” Modi said in his Independence Day speech on Saturday.

He reiterated plans to improve the country’s infrastructure by spending more than 110 trillion rupees ($1.47 trillion) on around 7,000 projects.