The Indian equity market closed higher on December 5, with the Nifty surpassing 24,700 for the fifth consecutive session. The market initially fluctuated, erasing early gains before experiencing a surge in buying during the latter half of the day.

TCS, Infosys, Titan Company, Trent, and Dr. Reddy's Labs were among the top gainers on the Nifty, while SBI Life Insurance, Bajaj Auto, HDFC Life, NTPC, and Grasim Industries were the biggest losers.

The Sensex rose by 809.53 points, or 1 percent, to settle at 81,765.86, while the Nifty gained 240.95 points, or 0.98 percent, finishing at 24,708.40. The Reserve Bank of India's policy announcement was scheduled for the following day, and investors remained cautious ahead of this decision. Market participants are closely monitoring developments as they await insights from the RBI's upcoming policy decision.