Lead falls by 0.3% on weak overseas cues

Lead futures fell 0.32% to Rs 110.75 per kg in futures trade today after participants reduced positions amid a weak trend in base metals overseas and sluggish domestic demand.

At the Multi Commodity Exchange, lead for delivery in August was trading 35 paise,or 0.32% lower at Rs 110.75 per kg in a business turnover of 524 lots.

Also, the metal for delivery in September shed 30 paise, or 0.31%, to Rs 111.75 per kg in two lots.

Market analysts said besides subdued demand from battery makers in domestic spot market, a weak trend in copper and other base metals at the London Metal Exchange, weighed on lead futures here.