Post Session: Sensex ends 40 pts higher on buying in FMCG, pharma stocks 15/09/2016 16:09

Post Session: Sensex ends 40 pts higher on buying in FMCG, pharma stocks
15/09/2016 16:09

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The Indian equities ended tad higher for the second straight session on Thursday, led by gains in FMCG and pharma stocks, amid rising expectations of an interest rate cut by the RBI in October after consumer inflation dipped to a five-month low in August. However, weakness across many markets in Asia ahead of key central bank meetings in Japan and the US next week restricted upward move.

The 30-share BSE SENSEX closed at 28412.89, up by 40.66 points or by 0.14 per cent, and the NSE Nifty ended at 8742.55, up by 15.95 points or by 0.18 per cent.

Even as the US Fed is pondering over an interest rate lift-off, analysts are divided over whether the Bank of Japan will dish out further monetary stimulus next week but could cut interest rates deeper into the negative territory.

On the global front, Asian stocks ended mixed as cautioned ruled sentiment ahead of upcoming central bank meetings next week. Shanghai Composite was closed today, Hang Seng ended with modest losses while Japan’s Nikkei 225 sank over 1 per cent as a stronger yen curbed the lure for exporter stocks.