01-Jan-2025 17:38

MCX Copper futures saw a tight movement but witnessed modest bounce from lows amid sustained weakness in Indian Rupee which fell beyond 85.70 per US dollar in intraday moves. The counter ended around Rs 794 per kg, almost unchanged on the day. COMEX Copper tanked to lowest in 7-weeks to end the year on tepid note as muted equities and firm dollar continue to pressurize the red metal. The red metal added 5% annual gain last year. Meanwhile, in equities, Chinese stocks saw their first annual gain despite a sharp dip on the final trading day of 2024. Shanghai Composite index jumped around 13% in the year. Hong Kong's benchmark Hang Seng Index also marked an annual gain nearly of 18%. European markets moslty saw good gains in last session. The FTSE 100 rose around 6% in the year, while France's CAC 40 shed nearly 3%. Germany's DAX spiked 19% despite economic challenges. Major US averages saw heavy gains for 2024, with the tech-heavy Nasdaq soaring by nearly 30% for the year. The Dow also surged by nearly 13% for the year, while the S&P 500 posted its second consecutive yearly gain of more than 20%, soaring by more than 23%.

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