MUMBAI (Reuters) - Nifty April futures gained 2 percent on growing rate cut hopes after sharp declines in crude and gold prices, dealers said.
The 50-share Nifty also gained 1.87 percent, trading above its 200-day moving average for the first time since April 4.
Slowing wholesale price inflation and sharp declines in commodity prices are expected to help narrow India's current account deficit, and also spur the central bank to cut interest rates at its policy review on May 3, dealers said.
(Reporting by Abhishek Vishnoi; Editing by Subhranshu Sahu)