Lead up on spot demand, weak overseas cues

Lead futures traded marginally higher by 0.34% to Rs 103 per kg today as speculators created fresh positions on the back of pick-up in demand amid a firming global trend.

At the Multi Commodity Exchange, March lead traded higher by 35 paise, or 0.34%, to Rs 103 per kg, with a business turnover of 855 lots.

The April delivery also rose by 30 paise to Rs 104.40 per kg, with a business volume of 69 lots.

Meanwhile, lead gained 1% to $2,015 a tonne on the London Metal Exchange.

Analysts said besides a pick-up in demand from battery makers in the spot market, firming trend in base metals in overseas markets helped lead prices to trade higher at futures market.