Commodity Online
MUMBAI: Copper Futures opened higher on the Indian Commexes followed by the copper stocks which gained momentum on bourses in the early trading hours today.

Major copper stocks witnessed an upsurge on the Bombay Stock Exchange (BSE); Hindustan Copper Ltd raised the most with 8.89% to Rs.108.35. Sterlite Industries Ltd too appreciated by 5.04% to Rs.331.55, while the Birla group company, Hindalco Industries Ltd rose by more than 2% to Rs.48.75 during the morning trading hours on the BSE.



The benchmark, Sensex was trading at 9188.17 levels up by more than 2% from its close on Friday. The metals index was up by over 3% to 5447.43 levels mainly led by copper and steel stocks.

The stock price of Hindustan copper Ltd had rose by over19% last week from its weekly low of Rs.86.50 to the highs of Rs.103.75.

The copper prices followed the international trend and continued to rise further. April copper Futures on MCX stood at Rs.205.4 up by more than Rs.4. Prices had witnessed a rise on Friday on increased demand by consuming units amid firming trend overseas.

According to analysts, the red metal might see an upward trend on improved outlook for demand, both internationally as well as domestically. A firming trend on the foreign commexes had fueled buying by the stockiest.

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