Lead futures gain 0.48% on spot demand

Lead futures traded 0.48 per cent higher to Rs 114.10 per kg today, as speculators covered-up their pending short positions, amid a firm trend at the spot market on rising demand.

At the Multi Commodity Exchange counter, lead futures for January-month delivery rose by 55 paise, or 0.48 per cent, to Rs 114.10 per kg, with a business turnover of 224 lots.

Similarly, lead futures for December-month delivery contract gained 50 paise, or 0.44 per cent, to Rs 113.80 per kg, with a business turnover of 683 lots.

Market analysts said apart from short-covering by speculators, a firming trend at the spot market helped lead to trade higher at futures trade here.