 "Lead down 0.7% on sluggish demand, overseas cues")
Lead fell 0.76% to Rs 124.75 per kg in futures trade today after participants reduced their exposures amid sluggish demand from battery makers in the spot market.
Besides, a weak trend in base metals at the London Metal Exchange also put pressure on lead futures here.
At the Multi Commodity exchange, lead for delivery in March shed 95 paise, or 0.76%, to Rs 124.75 per kg in business turnover of 475 lots.
Market analysts said besides subdued demand from battery-makers in the domestic spot market, a weakening trend the entire base metals at the London Metal Exchange after a gauge of Chinese factory production in March unexpectedly contracted, damping demand prospects in the world's biggest user of metals, influenced lead futures prices.
Besides, a weak trend in base metals at the London Metal Exchange also put pressure on lead futures here.
At the Multi Commodity exchange, lead for delivery in March shed 95 paise, or 0.76%, to Rs 124.75 per kg in business turnover of 475 lots.
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Metal prices for delivery in April were down 90 paise, or 0.71%, to Rs 126.05 per kg in a business turnover of 77 lots.
Market analysts said besides subdued demand from battery-makers in the domestic spot market, a weakening trend the entire base metals at the London Metal Exchange after a gauge of Chinese factory production in March unexpectedly contracted, damping demand prospects in the world's biggest user of metals, influenced lead futures prices.