 "Zinc rises by 0.7% on global cues")
Tracking a firming trend in base metals at the London Metal Exchange and rising demand at domestic spot markets, zinc prices rose by 0.70% to Rs 128.90 per kg in futures trading today as speculators enlarged positions.
At the Multi Commodity Exchange, zinc for delivery in January moved up by 90 paise, or 0.70%, to Rs 128.90 per kg in a business turnover of 403 lots.
Likewise, the metal for delivery in February edged up by 80 paise, or 0.62%, to Rs 129.20 per kg in 31 lots.
Gross domestic product rose 7.4% in 2014 from a year earlier, the statistics bureau said in Beijing, beating the estimated 7.3%.
At the Multi Commodity Exchange, zinc for delivery in January moved up by 90 paise, or 0.70%, to Rs 128.90 per kg in a business turnover of 403 lots.
Likewise, the metal for delivery in February edged up by 80 paise, or 0.62%, to Rs 129.20 per kg in 31 lots.
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Market analysts attributed the rise in zinc futures to fresh positions created by participants on the back of a firm global trend largely on the back of better-than-forecast economic growth in China, the world's largest consumer.
Gross domestic product rose 7.4% in 2014 from a year earlier, the statistics bureau said in Beijing, beating the estimated 7.3%.