Stock market news: Copper futures increased in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal tracking a firm trend in the overseas market amid concerns that lower output at a BHP Billiton Ltd. Mine in Australia may lead to a minor global surplus. The world’s largest mining company, BHP previous week said that as much as 70,000 metric tons of production may stray following an failure in a mill at the Olympic Dam Site. Australia & New Zealand Banking saw copper supply growth sliding to 5.1 % from a last estimate of 5.8 % this year due to reduced output at the above mentioned BHP Billiton mine predicted that global copper supply may overreach desired in 2015 by 120,000 tons. Copper futures may increase today as durable Japanese export data signaled a regaining in the world’s third largest economy, lifting the demand outlook for industrial metals. Copper futures for February 2015 contract ended at Rs 369.65/1 kg, upward by 1.9 % after opening at Rs 364, against the last closing price of Rs 362.75. It touched the max of Rs 371.6 till the ending.

Gold futures ended lower in the domestic and overseas market on Wednesday as investors and speculators exited positions in the precious metal as fears that Greece may closed the euro eased, fading the safe haven desired for the bullion. Speculation is rife that Greece and its international creditors will soon reach a debt compromise to continue the country’s bailout accord, enabling Greece to avert a funding crunch and averting an exit from the monetary union. Greece was set to submit a request for a six-month loan extension to the Euro area. The largest drop in US producer prices since November 2009 in January 2015 signaled weakening inflation in the world’s largest economy, boosting the case for the US Federal Reserve to stay put on low-lying interest rates for the time being, bolstering the appeal of the bullion as a store of value, cutting losses in the bullion. US wholesale prices slide 0.8 % in January from the last month when they decreased 0.2 %. Gold may increase today after minutes from the US Federal Reserve’s newest meet signaled that policymakers are willing to keep interest rates near zero for a longer period as risks such as a powerful dollar and the Greek crisis, overshadow a strong US market regaining. Gold futures for April 2015 contract closed at Rs 26,137 per 10 gram, down by 0.31 per cent after opening at Rs 26,244, against the last ending price of Rs 26,219. It touched the intra-day low-lying of Rs 26,070 till the ending.