Sensex, Nifty inch up on rate cut hopes

Indian shares inched higher on Tuesday, driven by gains in consumer goods stocks and supported by renewed confidence that major global central banks will start lowering interest rates this year.

Indian shares inched higher on Tuesday, driven by gains in consumer goods stocks and supported by renewed confidence that major global central banks will start lowering interest rates this year.

The blue-chip Nifty 50 added 0.2 per cent to 22,491 points, while S&P BSE Sensex advanced 0.16 per cent to 74,005 points.

Fast moving consumer goods stocks rose 2.2 per cent, driven by nearly 10 per cent gains in Marico after the company said it expects revenue growth to outpace volume growth in fiscal 2025.

Godrej Consumer Products rose 6.7 per cent after posting a bigger fourth-quarter adjusted profit due to higher demand for its home and personal care products.

Biscuits maker Britannia rose 2.4 per cent, extending its winning run since reporting a bigger-than-expected quarterly profit on Friday.

Asian shares made 15-month highs on Tuesday as the European Central Bank grows more confident about cutting rates and the US Federal Reserve said it would "eventually" lower rates.

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