New Delhi, Jan. 31 -- Indian stock markets are expected to bottom out before February 7th, according to a report by Jefferies.

The report also highlighted that there will be no surprises in the upcoming Union Budget, and that the Reserve Bank of India (RBI) will maintain a pro-growth stance in its monetary policy meeting.

It said "Nifty should bottom out before 7th Feb assuming no tax- surprise in the budget & a pro-growth RBI mtg. Rate sensitives should do well in the expected near-term rally".

The report suggested that rate-sensitive stocks are likely to perform well in the expected near-term rally.

The Indian stock market has been undergoing a correction for the past 126 days, which makes it the second longest correction of the las...