Rising for the second straight session, the Sensex at the Bombay Stock Exchange gained a modest 32 points, or 0.2 percent, to again close above the 16,000 level, at 16,021, today, on hopes of a rate cut by the Reserve Bank, and amid firm regional bourses. The Nifty at the National Stock Exchange rose 15 points, or 0.3 percent, to 4,863. Stock markets in Japan, China, Hong Kong, South Korea and Singapore climbed between 0.2 percent and 1 percent.