Lead futures rises 1.3% on global cues

Lead futures traded 1.30 per cent higher to Rs 109.45 per kg today, as speculators enlarged their positions, driven by a firming global trend.

At the Multi Commodity Exchange counter, lead futures for delivery in December rose by Rs 1.40, or 1.30 per cent to Rs 109.45 per kg, with a business turnover of 488 lots.

Similarly, lead futures for January contract delivery also gained Rs 1.35, or 1.24 per cent to Rs 110.35 per kg, with a business turnover of 15 lots.

Meanwhile, at the London Metal Exchange lead rose 2.2 per cent to $2,442 per tonne.

Market analysts said rise in lead futures was mostly attributed to a firm trend in base metals overseas after China refrained from raising borrowing costs even as inflation surged, and increased imports by the world's largest consumer boosted the outlook for global demand. 

Besides, rising domestic demand from battery makers too supported the upside in the metal prices, they said.