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Lead futures gain 0.78% on global cues

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Press Trust of India New Delhi
Last Updated : Jan 21 2013 | 5:24 AM IST

Lead futures traded 0.78 per cent higher to Rs 103.20 per kg today, as speculators enlarged positions, tracking firming trend in other base metals in global markets on weakening dollar.

At the Multi Commodity Exchange counter, lead futures for October delivery rose by 95 paise, or 0.78 per cent, to Rs 103.85 per kg, with a business turnover of 47 lots.

Lead futures for November contract delivery also gained 75 paise, or 0.73 per cent, to Rs 103.70 per kg, with a turnover of 10 lots.

Analysts said a firming trend in base metals overseas global markets, as US employment data added to signs the Federal Reserve may expand credit-easing measures to spur growth, weakening the dollar and boosting demand for alternative assets, supported the upside in lead futures here.

Meanwhile, lead remained unchanged at $2,316 per tonne at the London Metal Exchange in early trade today.

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First Published: Oct 07 2010 | 4:48 PM IST

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