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Lead extend gains overseas trend

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Press Trust of India New Delhi

Lead futures today strengthened by Rs 1.05, or 1.14 per cent, to Rs 93.45 per kg at the Multi Commodity Exchange largely in tandem with firming trend overseas.

The August contract of lead rose by Rs 1.05, or 1.14 per cent, to Rs 93.45 per kg, having a turnover of 449 lots.

The metal contract for delivery in October month also edged up by Rs 0.95, or 1.12 per cent to Rs 94.65 per kg in a turnover of 88 lots.

Analysts said firming trend in base metals pack in global markets on low London Metal Exchange inventories mainly influenced lead prices in futures trade.

Pick up in demand from battery makers and other consuming industries at physical market also supported the uptrend.

 

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First Published: Aug 26 2010 | 2:24 PM IST

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