Lead futures gain 0.49% on firm global cues

Lead futures traded 0.49 per cent higher to Rs 113.20 per kg today, as speculators enlarged their positions in tandem with a firming trend in base metals at the London Metal Exchange.

Besides, strong demand from battery makers at the spot market also influenced prices.

At the Multi Commodity Exchange counter, lead futures for February delivery rose by 55 paise, or 0.49 per cent to Rs 113.20 per kg, with a business turnover of three lots.

Similarly, lead futures for December-contract delivery also gained 30 paise, or 0.27 per cent to Rs 112.40 per kg, with a business turnover of two lots.

Meanwhile, lead trade a shade higher at $2,441 per tonne at the London Metal Exchange. 

Market analysts said a firm trend in base metals overseas on optimism that the economic recovery in the US boosted outlook for the metals, helped lead to trade higher at futures trade here.