Lead futures down on thin trade

In a range bound activity, lead futures today fell by 0.83 per cent to Rs 119.15 a kg, as speculators reduced positions, driven by weak trend overseas.

Sluggish demand from battery makers at the spot market also put pressure on futures prices here.

At the Multi Commodity Exchange counter, lead for February delivery fell by Re 1 or 0.83 per cent to Rs 119.15 a kg, with a business turnover of 31 lots.

Similarly, the metal for delivery in March shed 90 paise or 0.75 per cent to Rs 119.45 a kg, with a business turnover of five lots.

Market analysts said weak trend in the entire base metals in the overseas markets and subdued demand at the domestic market mainly put pressure on prices here.

Meanwhile, at the London Metal Exchange, lead traded 2.1 per cent to $2,620 a tonne.