Lead futures gain 1.33% on global cues

Lead futures prices rose by 1.33 per cent to Rs 103.20 per kg today, tracking other base metals which strengthened at the London Metal Exchange (LME).

Firm trend at the domestic markets on pick up in spot demand, also pushed lead futures prices here. 

At the Multi Commodity Exchange counter, lead futures for November delivery rose by Rs 1.35, or 1.33 per cent to Rs 103.20 per kg, with a business turnover of 1,033 lots.

Similarly, lead futures for December delivery also gained Rs 1.25, or 1.22 per cent to Rs 104.10 per kg, with a business turnover of 152 lots.

Market analysts said a firm trend in base metals overseas after weakening dollar raised appeal for commodities as an alternative investment, influenced lead futures prices.

Besides, firm demand from battery makers at domestic markets also supported the upside, they said. 

Meanwhile, the LME Index of prices for six industrial metals including copper and aluminium rose 0.9 per cent.