Supported by pick-up in spot demand and covering-up of short positions, lead rose by 1.58% in futures trade today as speculators created fresh positions.
At the Multi Commodity Exchange, lead for August delivery recovered by Rs 1.60, or 1.58%, to Rs 102.60 per kg, with a business turnover of 3,299 lots.
The metal for September delivery also moved up by Rs 1.40, or 1.38%, to Rs 103 per kg, with a business volume of 270 lots.
Market analysts said besides pick-up in demand by battery makers and other consuming industries at the spot markets, covering-up of short positions by speculators helped lead futures to trade higher.
However, weak trend in base metals overseas restricted the gains, they added.
