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Lead futures advance 0.34 pc driven by spot demand

Press Trust of India  |  New Delhi 

Amid a firming trend at the spot market on rising demand from battery makers, lead rose 0.34 per cent to Rs 133.50 per kg in futures trade today as speculators built up positions.

Furthermore, a firming trend in base metals overseas supported the upside in metal prices.

At the Multi Commodity Exchange, lead for delivery in current month was up 45 paise, or 0.34 per cent, at Rs 133.50 per kg, in a business turnover of 594 lots.

Metal for delivery in November too rose by a similar margin to trade at Rs 134.20 per kg in 8 lots.

According to market analysts, rising demand from battery makers at spot markets and strength in base metals at the Metal Exchange helped lead futures trade higher.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 14 2016. 12:22 IST