Sensex: 83,409.69 (-0.20%)

Nifty: 25,405.30 (-0.19%)

anubhai angaldas Securities Pvt. Ltd. Member: BSE - NSE - CDSL

Technology . Transparency . Trust

Contact Us
Apply For IPO

MARKET

Commodity News Details
Copper Bounces Above $4.80 Per Pound Mark
28-May-2024 17:32

Copper futures saw a strong rebound today as a recent correction led way to a recovery amid hopes of Chinese demand holding up. Equities were mixed today. Asian stocks corrected today. China’s Shanghai Composite index fell 0.46% while Japan’s Nikkei 225 index eased 0.11%. Hong Kong’s Hang Seng index also softened 0.03%. European stocks are mixed with German DAX adding 0.28% and French CAC sliding 0.27%. US stock market was shut yesterday due to Memorial Day holiday.

COMEX Copper soared above $4.80 per pound mark though and currently quotes at $4.82 per pound, up 1.50% on the day. Bulks of these gains were linked to reports stating that Shanghai, China’s financial hub has reduced down payment ratios and the mortgage rate floor for first-time homebuyers. This is expected to shore up the ailing housing market. The city reduced down payment ratios by 10 percentage points to a minimum of 20% for first-time buyers. The ratio was lowered to 30% from 40% for second-home buyers.

Powered by Commodity Insights

Attention Investor
As per CDSL communiqué Kindly update your Email ID, Mobile Number & Income Range in CDSL demat Account on or before 31st May 2021, Non Compliance Account will be INACTIVE after 31st May 2021. | Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from CDSL on the same day......................issued in the interest of investors.  | "No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account." | "KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary."    Prevent unauthorised transactions in your account --> Update your mobile numbers/email IDs with your stock brokers. Receive information of your transactions directly from Exchange on your mobile/email at the end of the day .......... Issued in the interest of Investors.