Bank of Baroda, Reliance Industries among six stocks that will remain in focus today

The Sensex and Nifty are expected to open on a flat note on Wednesday as investors will stay on the sidelines ahead of the Reserve Bank of India (RBI)'s monetary policy outcome later today during market hours. At 7:50 am, SGX Nifty was trading at 10,588, down 19 points or 0.18 per cent. 

Global cues remained positive with Asian stocks edging up after tech sector strength lifted Wall Street shares overnight, while concerns about Italy’s debt prompted investors to move into lower-risk government debt elsewhere, pushing US Treasury yields down from recent highs.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1 per cent, while Japan's Nikkei edged down 0.1 per cent. Australian stocks rose 0.3 per cent.

On Wall Street, the Nasdaq closed at a record high for the second day in a row on Tuesday with help from the technology and consumer discretionary sectors amid an upbeat outlook for the US economy.

But the S&P 500 dipped, with the financial sector hit by lower Treasury yields, which can reduce banks' profits.

Here are key stocks that will remain in news today:

Bank of Baroda: Bank of Baroda has hiked its marginal cost-based lending rate (MCLR) by 5 basis points with effect from 7 June, 2018. Bank of Baroda is the latest lender to raise rates in the past few days. 

NMDC: State-owned miner NMDC said that it produced 4.53 million tonne (MT) iron ore in the first two months of the ongoing fiscal, 2018-19.

Hindustan Copper: State owned Hindustan Copper has received government nod to become an independent copper exploration agency that would give a push to its mining expansion ambitions. In order to boost its expansion projects, the company has decided to pump Rs 700 crore in the current fiscal, up from the Rs 589 crore capex in the previous fiscal.

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Bandhan Bank: The board of directors of the Bandhan Bank appointed Harun Rasid Khan as the non-executive, part time chairman of the bank. He is a former RBI deputy governor.

Corporation Bank: The bank is considering raising of capital by way of issuance of fresh equity shares and/or by issuance of additional Tier – I or Tier – II capital

Reliance Industries: Morgan Stanley maintained overweight rating on the RIL stock with a target price of Rs 1,241.