Lead futures gain 1.57% on global cues

Lead futures traded 1.57 per cent higher to Rs 116.30 per kg today, as speculators enlarged their positions, driven by a firm global trend.

Pick up in domestic demand at spot markets, also influenced lead futures prices.

At the Multi Commodity Exchange counter, lead futures for November delivery rose by Rs 1.80, or 1.57 per cent to Rs 116.30 per kg, with a business turnover of 12 lots.

Similarly, lead futures for December contract delivery also gained Rs 1.75, or 1.52 per cent to Rs 117.15 per kg, with a business turnover of seven lots. 

Market analysts said a firm trend in base metals overseas in anticipations of pick up in global demand and a better trend at domestic spot markets, led to a rise in lead futures prices here.