Lead futures advance 0.17% driven by spot demand

Amid a better trend at the spot market on rising demand from battery makers, lead was trading a shade higher by 0.17 per cent to Rs 120.80 per kg in futures trade today as speculators built up positions.
However, a falling trend in base metals overseas, capped the gains.
At the Multi Commodity Exchange, lead for delivery in June was up 20 paise, or 0.17 per cent, at Rs 120.80 per kg, in a business turnover of 7 lots.
Likewise, the metal for delivery in May traded up by 5 paise, or 0.04 per cent, at Rs 120.20 per kg in 685 lots.

According to marketmen, rising demand from battery makers at domestic spot markets helped lead futures trade higher but weakness in base metals overseas after data showed that the China's official manufacturing purchasing managers index, a key gauge of factory activity, fell to 50.1 in April from 50.2 in March.