Copper bulls hog the limelight
07/09/2016 14:35
Copper futures jumped by more than 1 per cent during noon trade in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal tracking firm global cues as weak US and Euro area data signaled a prolonged period of loose monetary policies to support economic growth, improving demand prospects.
A US services index fell to 51.4 in August, the lowest since February 2010, from 55.5 in July, while Euro area private sector growth fell to the lowest in 19 months as a combined manufacturing and services gauge declined to 52.9 from 53.2 in July, with a reading above 50 signaling expansion.
At the MCX, copper futures for November 2016 contract is trading at Rs 314.25 per kg, up by 1.03 per cent, after opening at Rs 313, against a previous close of Rs 311.05. It touched the intra-day high of Rs 314.45. (at 14:28 PM).
07/09/2016 14:35
A US services index fell to 51.4 in August, the lowest since February 2010, from 55.5 in July, while Euro area private sector growth fell to the lowest in 19 months as a combined manufacturing and services gauge declined to 52.9 from 53.2 in July, with a reading above 50 signaling expansion.
At the MCX, copper futures for November 2016 contract is trading at Rs 314.25 per kg, up by 1.03 per cent, after opening at Rs 313, against a previous close of Rs 311.05. It touched the intra-day high of Rs 314.45. (at 14:28 PM).
