Lead futures gain 1.04% on spot demand, positive global cues

Supported by pick-up in domestic demand and positive global cues, lead futures edged higher by 1.04 per cent to Rs 126.90 per kg today as speculators raised their bets.
At the Multi Commodity Exchange, lead for delivery in July was trading higher by Rs 1.30, or 1.04 per cent, to Rs 126.90 per kg, with a turnover of 1,201 lots.
The metal for delivery in August also gained Rs 1.05, or 0.83 per cent, to trade at Rs 127.50 per kg in 17 lots.
Marketmen said apart from domestic demand, particularly from battery-makers, gains in copper and other base metals in overseas market, supported the upside in lead prices in futures trade.