Sensex closes 700 points higher ahead of RBI's rate decision

The benchmark index Sensex closed 685.34 points, or 0.95%, higher at 73,067.81 on Tuesday, while Nifty 50 rose 220.35 points, or 0.98%, to close at 22,776.10. This comes ahead of the RBI's repo rate announcement. The central bank is widely expected to hike the repo rate by 25 bps this week, marking its first hike in almost four years.