Crude oil futures rallied to one week highs above $97 a barrel boosted by gains in equities and the positive data releases from US. Japanese stocks shot higher Friday, as an overnight advance on Wall Street and a weakened yen combined with upbeat industrial-production data to lift sentiment, while other Asian markets also saw gains.Japan’s Nikkei Stock Average jumped another 3.3% on top of Thursday’s 3% rally, recording a climb of more than 30% in the first half of 2013.
At the Multi Commodity Exchange, copper for delivery in August shed Rs 2.10, or 0.51%, to Rs 406.75 per kg in business turnover of 2,118 lots. Similarly, copper for delivery in June traded lower by Rs 2, or 0.50%, to Rs 401.80 per kg in 2,075 lots.
Analysts attributed the fall in copper futures to weak global cues amid signs of slowing in China and uncertainty about the future of stimulus in the US. MCX Copper is declined by 0.70% and seems to trade more down side for next trading session.
At the Multi Commodity Exchange, copper for delivery in August shed Rs 2.10, or 0.51%, to Rs 406.75 per kg in business turnover of 2,118 lots. Similarly, copper for delivery in June traded lower by Rs 2, or 0.50%, to Rs 401.80 per kg in 2,075 lots.
Analysts attributed the fall in copper futures to weak global cues amid signs of slowing in China and uncertainty about the future of stimulus in the US. MCX Copper is declined by 0.70% and seems to trade more down side for next trading session.
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