Mumbai, Feb. 4 -- An excellent recovery from one-month low on the COMEX Copper futures faded as equities turned lower in overnight markets. The weakness on Wall Street was largely due to a rotation out of technology stocks, as reflected by the steep drop by the Nasdaq. The Nasdaq slumped 336.92 points or 1.4 percent to 23,255.19, the S&P 500 slid 58.63 points or 0.8 percent to 6,917.81 and the Dow fell 166.67 points or 0.3 percent to 49,240.99. The red metal was holding at $6.03 per pound, down 1% in early Asian trades. On MCX, Copper futures were seen approaching near Rs 1300 per kg.
Published by HT Digital Content Services with permission from Capital Market....