MOST ACCURATE STOCK MARKET REVIEW FOR TODAY
BASE METALS
Base metals pack on the LME traded on a positive note yesterday on the back of weakness in the DX. Upbeat global market sentiments also acted as a positive factor. Further, decline in US non-farm employment data eased concern of QE tapering program by the Federal Reserve which supported an upside in prices. Mixed inventories scenario capped sharp gains in prices.In the base metals set, LME Nickel prices gained the most despite rise in inventories. On the MCX, base metals traded on a positive note.
COPPER
LME Copper gained 0.9 percent yesterday taking cues from weakness in the DX coupled with upbeat global market sentiments. Sustained demand in Ch ina continued in yesterday's trade and supported an upside in prices of the red metal.
Also, decline in inventories by 0.5 percent to 492,350 tonnes acted as a positive factor. The red metal touched an intra-day high of $1344.46/oz and closed at $1340.04/oz on Tuesday.
The near month Copper contract gained 0.3 percent yesterday and closed at Rs.454.50/kg after touching a high of Rs.457.25/kg in yesterday's trading session.
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