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Lead futures surge 1.19% on global cues

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Press Trust of India New Delhi

Lead futures prices rose 1.19 per cent at Rs 115.20 per kg today largely in tandem with firming trend in base metals overseas.

Strong demand at the domestic markets also supported the rise in lead futures prices.

At the Multi Commodity Exchange platform, lead for delivery in December rose by Rs 1.55, or 1.19 per cent, to Rs 115.20 per kg, with a business turnover of two lots.
    
Similarly, the metal for delivery in October gained Rs 1.30, or 1.16 per cent, to Rs 113.30 per kg, with a business volume of nine lots.
    
Analysts said fresh positions created by speculators, driven by a firming trend in base metals overseas, mainly led to a rise in lead futures prices.
    
Pick up in demand from battery manufacturers further fuelled the uptrend, they said.

 

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First Published: Oct 25 2010 | 1:49 PM IST

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