Sensex, Nifty hit day's high; bank stocks advance

The domestic equities indices touched a new high for the day on Tuesday. The Nifty moved closer to 17,100 points. After falling in the previous two sessions, bank stocks saw some bargain buying. The barometer index, the BSE Sensex, was up 638.95 points, or 1.13 percent, to 57,386.09 at roughly 10:35 IST. The Nifty 50 index rose 172.50 points to 17,084.75, or 1.02 percent.

The BSE Mid-Cap index increased by 0.69 percent, while the BSE Small-Cap index increased by 0.84 percent. The market's breadth was impressive. On the BSE, there were 2227 gains and 705 losses. There were 128 shares that remained unchanged.

Biocon's shares rose 0.46 percent to Rs 360.90. Tabuk Pharmaceuticals, a wholly-owned subsidiary of Astra Industrial Group in the Middle East and North Africa (MENA) area, struck a partnership with the firm to commercialise select specialty products in the Middle East.

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) began its two-day policy meeting on December 6, 2021. On Wednesday, December 8, 2021, the MPC will announce its interest rate decision. The MPC held the policy repo rate under the liquidity adjustment facility (LAF) at 4% at its previous meeting.

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