Ahead of Modi's swearing-in, stock market registers gains in opening trade

On the day of Narendra Modi's swearing-in ceremony as the prime minister, the domestic stock markets on Thursday opened on a positive note with BSE Sensex rising over 150 points to record 39,653.63 in early trade.

NSE Nifty inched up to 11,900.75, up by 39.65 points from its Wednesday close.

Meanwhile, the domestic currency appreciated by 12 paise to 69.71 against the US dollar in opening trade.

The rupee opened strong at 69.76 at the interbank forex market then gained further ground to touch 69.71 per dollar amid positive opening in domestic equities, displaying gains of 12 paise against the greenback.

On Wednesday, the rupee had settled at 69.83 against the US dollar.

Snapping its three-day rising streak, the BSE Sensex dropped 248 points yesterday while Nifty lost 67.65 points to finish at 11,861.10.