Lead gains 0.2% on global cues

Lead prices edged up 0.20% in futures trade today after speculators created fresh positions amid a firm trend in base metals at the London Metal Exchange (LME).

At the Multi Commodity Exchange, the March lead moved up by 20 paise, or 0.20%, to Rs 102.55 per kg, in a turnover of 1,287 lots.

The April delivery gained 15 paise, or 0.14%, to Rs 103.90 per kg, with a business turnover of 717 lots.

At the LME lead up by 0.2% to $1,998 a tonne in early trade today.

Analysts said creation of fresh positions by speculators, supported by a firming trend in base metals at the LME, helped lead prices to rise at futures trade.

In addition, pick-up in demand at domestic markets from battery makers also influenced metal prices, they said.