Lead futures gain over 1 per cent on fresh bets

Lead prices on Tuesday traded higher by Rs 1.90 to Rs 153 per kg in futures trade as participants built up fresh positions driven by pick-up in demand at spot market.

On the Multi Commodity Exchange, lead for delivery in November edged higher by Rs 1.90, or 1.26 per cent, to Rs 153 per kg in a business volume of 17 lots.

Lead contracts for December delivery traded up by 25 paise, or 0.16 per cent, to Rs 152.95 per kg in a business turnover of 602 lots.

Market analysts said fresh positions created by traders due to upsurge in demand by battery-makers in physical market mainly helped lead prices to trade higher.