Lead up by 0.5% on base metal gains

Lead prices moved up by 0.54% to Rs 112.50 per kg in futures trade today as participants enlarged their positions, driven by pick-up in spot market demand and gains in base metals overseas.

At Multi Commodity Exchange, lead for delivery in October moved up by 60 paise, or 0.54%, to Rs 112.50 per kg in a business turnover of 30 lots.

Likewise, the metal for delivery in September edged up by 50 paise, or 0.45%, to Rs 111.40 per kg in 381 lots.

Market analysts attributed the rise in lead futures to speculators enlarging their positions following pick-up in demand from battery-makers in the spot market.

Besides, a firming trend in base metals overseas influenced metal prices.