Lead rises 0.34% on overseas trend

Pick up in domestic demand fuels uptrend

Tracking a firm trend in base metals in the overseas market, lead futures prices today edged up by 0.34% to Rs 117.95 per kg after speculators enlarged positions.

Pick up in spot demand from battery-makers helped lead to trade higher at futures trade.

At the Multi Commodity Exchange, lead for delivery in October traded 40 paise, or 0.34%, higher at Rs 117.95 per kg, with a turnover of 1,768 lots.

The metal for delivery in November rose by a similar margin to Rs 118.15 per kg, with a business volume of 147 lots.

Marketmen said creation of positions by speculators, driven by a firm trend in copper and other base metals overseas, influenced lead prices at futures trade here.

Rising demand from battery-makers supported the upside in metal prices, they said.