Lead futures gain 0.74% on spot demand

Taking positive cues from the spot markets on rising demand, lead futures rose by 0.74 per cent to Rs 136.95 per kg today on the firs trading day of 2017 as participants built up fresh position.

Lead for delivery in January traded higher by Re one, or 0.74 per cent to Rs 136.95 per kg with a turnover of 158 lots at the Multi Commodity Exchange.

The metal for delivery in February gained 70 paise or 0.51 per cent to Rs 137.25 per kg in a business volume of two lots.

Market analysts said pick up in demand at the domestic spot markets, particularly from battery-makers, influenced lead prices at futures trade.