Reuters reported that India's copper futures traded higher helped by rising stock markets.
Analysts said that the most traded November contract MCCX9 was 1.31% higher at INR 312.25 per kilogram at 3:27 PM. World stocks broke a 3 day losing run and hovered near their 12 month high, boosted by the Dow's return above 10,000 points.
Mr Tejas Seth an analyst with SMC Global said that copper is looking positive due to strong equities and optimism about growth. Buying is recommended at INR 310 with a stop loss of INR 307 and targeting INR 315. Meanwhile, stocks in the warehouses monitored by the London Metal Exchange rose 3,000 tonnes to 367,075 tonnes.
