Indian markets hits four-month high

Soon after the release of Union Budget 2017, the Indian capital markets are trading four-month highs in just a week. And now, the Reserve Bank of India (RBI) is expected to cut the interest rates.

The RBI will commence its monetary policy on February 7 and its results are likely to be out on February 8. There are chances that interest rates of 25 basis points will be cut in the upcoming monetary policy.

The Indian markets started the week with a positive boost after global markets closed in green. On Monday, a firm trade in Asian markets also contributed to the gains. The BSE Sensex and Nifty increased 0.74 per cent and 0.65 per cent and are trading at almost 28,450 and 8,800 levels respectively. Meanwhile, the Nifty mid-cap and Small-cap indices were trading at their respective record highs. ICICI Bank, ITC, HDFC twins and Larsen & Toubro are contributing major gains for the markets.

There are more than 100 companies, which are expected to report their quarterly earnings on Monday. The list of the major results to be watched out includes Gujarat Gas, Gujarat State Petronet, Abbott India, Shakti Pumps and Titagarh Wagons.