Lead gains 0.26% on global cues

Pick up in spot demand helps uptrend

Supported by a pick up in spot market demand and strong global cues, lead futures prices today edged up 0.26% to Rs 116.50 per kg.

At the Multi Commodity Exchange, lead for delivery in September traded 30 paise, or 0.26%, higher at Rs 116.50 per kg, with a turnover of 1,958 lots.

October lead rose by a similar margin to trade at Rs 117 per kg, with a turnover of 210 lots.

Globally, lead traded 0.95% higher at $2,115 per tonne at the London Metal Exchange.

Marketmen said besides rising demand from battery-makers, a firming trend overseas on hopes that policy makers from the US and China would bring more measures to stimulate growth, boosted the demand for raw materials, influencing lead futures prices.