Lead gains 0.2% on global cues

Lead futures prices edged higher by 0.23% today, as speculators built up fresh positions, tracking a rebound in base metals at the London Metal Exchange (LME).

At the Multi Commodity Exchange, the May contract edged up by 25 paise, or 0.23%, to Rs 107.45 per kg, with a business turnover of 56 lots.

The April contract moved up by 20 paise, or 0.19%, to Rs 106.25 per kg, with a business turnover of 936 lots.

At the LME, lead traded a shade higher at $2,051.25 a tonne in early trade today.

Analysts said fresh positions created by speculators supported a rebound in base metals pack and rising demand from battery-makers helped lead prices to rise at futures trade.