CANADA STOCKS-Index slightly up as investors brace for Fed minutes

(Updated at 10:08 a.m. ET/ 1408 GMT)

By Nikhil Sharma

Oct 9 (Reuters) - Canada's main stock index edged up on Wednesday, supported by gains in technology and consumer discretionary stocks, while investors awaited the minutes of the Federal Reserve's last policy meeting.

The Toronto Stock Exchange's S&P/TSX composite index was up 14.2 points, or 0.06%, at 24,086.71 following two consecutive sessions of losses.

Minutes of the U.S. Federal Reserve's September meeting, where the central bank cut interest rates by 50 basis points, are expected later in the day and could offer insights into country's monetary policy outlook.

Investors are pricing in 85.4% chance for a 25-basis-point cut at the Fed's November meeting, and there are also slim bets for the central bank to hold rates.

U.S. consumer price index data, expected on Thursday, will also help discern the central bank's rate decision.

"I think people are sort of cautiously optimistic that the inflation number may come in at a benign level, continuing on the trend of (policy) easing," said Brian Madden, chief investment officer at First Avenue Investment Counsel.

Focus will also be on Canada's unemployment data, due on Friday, for clues on the Bank of Canada's decision at its policy meeting later this month.

Among sectors, Canada's information technology was the top gainer with a 0.7% rise, partly benefiting from 2.6% jump in Celestica (CLS).

Consumer discretionary also gained significantly, supported by snowmobile manufacturer BRP that announced a change to its board.

On the other hand, energy sector limited gains through its 0.7% fall tracking lower oil prices.

The materials sector also fell 0.6% as it tracked gold prices that fell to a near-two-week low on lowered expectations of deeper U.S. rate cuts.

Among individual stocks, shares of Alimentation Couche-Tard (ANCTF) fell 0.7% after the Canadian convenience store operator made a revised bid for Japan's Seven & i Holdings (SVNDF). (Reporting by Nikhil Sharma in Bengaluru; Editing by Leroy Leo)