 "Lead down 0.6% on global cues, subdued domestic demand")
Tracking a weak trend in base metals overseas and sluggish domestic demand, lead fell 0.61% to Rs 122.30 per kg in futures trade today after participants reduced their holdings.
At the Multi Commodity Exchange, lead for delivery in November shed 75 paise, or 0.61%, to Rs 122.30 per kg in business turnover of 305 lots.
Similarly, the metal for delivery in December fell by 75 paise, or 0.60%, to Rs 123.35 per kg in a turnover of five lots.
Market analysts said besides subdued demand from battery-makers and other consuming industries in the domestic spot market, a weak trend overseas after the European Commission cut growth forecasts for the euro area, dampening the demand outlook for industrial metals, weighed on lead futures prices here.
At the Multi Commodity Exchange, lead for delivery in November shed 75 paise, or 0.61%, to Rs 122.30 per kg in business turnover of 305 lots.
Similarly, the metal for delivery in December fell by 75 paise, or 0.60%, to Rs 123.35 per kg in a turnover of five lots.
Market analysts said besides subdued demand from battery-makers and other consuming industries in the domestic spot market, a weak trend overseas after the European Commission cut growth forecasts for the euro area, dampening the demand outlook for industrial metals, weighed on lead futures prices here.