Zinc futures up 0.98% on overseas cues, spot demand

Zinc futures rose by 0.98 per cent to Rs 148.75 per kg after speculators increased bets amid a firming trend in base metals overseas and better domestic demand.
At the Multi Commodity Exchange, zinc for delivery in August was up Rs 1.45, or 1.45 per cent, to Rs 148.75 per kg, with a business turnover of 147 lots.
The metal for delivery in July also edged higher by Rs 1.40, or 0.95 per cent, to Rs 148.10 per kg, with a business turnover of 2,081 lots.
Globally, zinc rose by 0.5 per cent at the London Metal Exchange (LME).
Marketmen said besides a firming trend at domestic spot market, strength in base metals at the LME, influenced zinc prices in futures trade.