Lead up 0.38% on overseas trend

Pick up in demand from battery-makers and covering-up of short positions by speculators supports uptrend

In range-bound movements, lead prices were up by 0.38% to Rs 119.50 per kg after participants created fresh positions, taking positive cues from the global markets.

Pick up in demand from battery-makers and covering-up of short positions by speculators helped lead to trade higher at futures trade, traders said.

At the Multi Commodity Exchange, lead for delivery in November traded 45 paise, or 0.38%, higher at Rs 119.50 per kg, with a turnover of 2,206 lots.

December lead also rose by 30 paise, or 0.25%, to Rs 119.05 per kg, with a turnover of 251 lots.

Marketmen said a firm trend in copper and other base metals at the London Metal Exchange and rising demand at domestic spot markets from battery-makers supported the uptrend in lead futures prices.