Lead declines 0.58% on global cues

Sluggish domestic demand influences prices

Amid a weak trend in the global markets and sluggish domestic demand, lead continued to decline and lost 0.58% in futures trade today.

At Multi Commodity Exchange, lead for delivery in September traded lower by 70 paise, or 0.58%, to Rs 120.60 per kg, with a business turnover of 934 lots.

October lead fell by a similar margin to Rs 120.55 per kg in a turnover of 329 lots.

Marketmen said a weak trend in base metals in overseas markets on concerns that stimulus measures from central banks will fail to revive economies amid fresh concerns over the European debt crisis, kept pressure on the lead futures prices here.