Lead futures gain 0.27% on global cues

Lead futures edged up by 0.27% to Rs 110.20 per kg today as speculators built up fresh positions, tracking a firming trend in base metals on the London Metal Exchange (LME).

At the Multi Commodity Exchange, lead for delivery in January gained 30 paise, or 0.27%, to Rs 110.20 per kg, with an open interest for 13 lots.

In a similar manner, the metal for current month delivery rose by 25 paise, or 0.23%, to Rs 109.25 per kg in 542 lots.

Lead advanced by 0.30% to $2,109.50 tonne in early trade on the LME today.

Analysts said creation of fresh positions by speculators, in line with a firming trend in the entire base metals pack on the LME, pushed up lead prices in futures trade.

In addition, a pick-up in demand from battery-makers in the domestic market supported the rise, they said.