Copper off record high, weak INR caps losses for local futures

COMEX Copper futures stayed slippery as a drop from record highs extended amid weak equities. The red metal currently trades down 0.64% at $6.25 per pound. Asian shares were mostly slippery. China's Shanghai Composite index eased 0.09% while Hong Kong?s Hang Seng index closed down more than 1%. Japan?s Nikkei average shed 0.97%. European stocks saw mixed moves amid lack of major economic cues. The US stocks fell on Friday with major indices losing more than 1% on the day. MCX Copper futures are down marginally at Rs 1341.45 per kg as a sharp slide in the Indian Rupee against the US dollar capped losses. INR fell to record lows above 96.30 per US dollar today.

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