All Eyes on RBI Policy – Tuesday closing report
Moneylife Digital Team  and  IANS 05 June 2018
We had mentioned in Monday’s closing report that Nifty, Sensex are under pressure. The major indices of the Indian stock markets continued its decline on Tuesday and closed with losses over Monday’s close. On the NSE, there were 328 advances, 1422 declines and 302 unchanged. The trends of the major indices in the course of Tuesday’s trading are given in the table below:
 
 
Broadly negative global cues along with caution ahead of the RBI's monetary policy review depressed the key Indian equity indices on Tuesday. According to market observers, heavy selling pressure was witnessed in the capital goods, consumer durables and IT stocks. State-run copper producer Hindustan Copper Limited (HCL), which is focusing on exploration in order to assess copper reserve in its mines, on Tuesday said it is expecting its turnover to cross Rs 2,000 crore in the current fiscal, an official said on Tuesday. State-owned Bank of Baroda on Tuesday said it will hike its benchmark marginal cost of funds based lending rate (MCLR) by 5 basis points, across various tenures from June 7. "The bank's 1-year MCLR will be 8.45 per cent, which is competitive as per the current market scenario," the bank said in a statement. "For all other tenors: overnight, one month, three months and six months rates will be 7.95 per cent, 8 per cent, 8.10 per cent and 8.30 per cent, respectively."
 
IndusInd Bank Ltd on Tuesday said it has received a 'no-objection' from National Stock Exchange (NSE) and BSE for merger of Bharat Financial Inclusion Ltd with itself. The "no-objection" is based on the draft scheme and other documents submitted by IndusInd Bank, including undertaking given in terms of regulation 11 of SEBI (LODR) Regulation. "This is one of the important approvals, which would enable IndusInd Bank to file the draft scheme of amalgamation, as approved by the Boards of Directors of both the entities on 14 October 2017, with the National Company Law Tribunal (NCLT) at Mumbai," the lender said in a release.
 
The Enforcement Directorate (ED) on Tuesday questioned former Finance Minister P. Chidambaram here in a probe into the FIPB's approval to the Aircel-Maxis deals. Chidambaram appeared at the ED's office around 11 a.m. -- within an hour after a city court extended the interim protection to him from arrest till July 10 in connection with the case after directing him to join the probe whenever required. It was the first time when the senior Congress leader joined the probe in the case. The questioning is part of ED investigation in a money laundering case registered in 2017 against Chidambaram's son Karti Chidambaram in the Aircel-Maxis case. 
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 
 
 
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