Lead futures gain 0.47% on global cues

Lead futures traded 0.47 per cent higher to Rs 106.80 per kg today, as speculators enlarged their positions, driven by a firm global trend and pick up in domestic demand at spot markets.

At the Multi Commodity Exchange counter, lead futures for January delivery rose by 50 paise, or 0.47 per cent to Rs 106.30 per kg, with a business turnover of one lot.

Similarly, lead futures for December contract delivery also gained 45 paise, or 0.43 per cent to Rs 105.85 per kg, with a business turnover of 19 lots.

Meanwhile, lead climbed 0.6 per cent to $2,365 per tonne at the London Metal Exchange.  

Market analysts said a firm trend in base metals overseas in anticipation of pick up in global demand and a better trend at domestic markets, influenced lead futures prices here.