Lead prices fell by 0.29% to Rs 119.50 per kg in futures trade today as speculators reduced their positions amid weak cues from global markets.
At the Multi Commodity Exchange, lead for July delivery declined by 35 paise, or 0.29%, to Rs 119.50 per kg, with a business turnover of 868 lots.
August contract shed 30 paise, or 0.25%, to Rs 120.10 per kg, with a trading volume of 46 lots.
Analysts said a weak trend in copper and other base metals on the London Metal Exchange on demand worries, after Moody's downgraded Portugal's credit rating, led to the fall in lead prices.
In addition, subdued domestic demand also cast its shadow on the metal prices, they said.