Indian Stock Market Tips- Base metals: Aluminium, lead rise on spot demand
Aluminum prices were marginally higher by 0.34 percent to Rs 148.30 per kg in futures trade Tuesday as speculators created fresh positions amid improved demand in the spot market amid positive global cues.
At the Multi Commodity Exchange, aluminum for delivery in current month inched up by 50 paise or 0.34 percent to Rs 148.30 per kg in business turnover of 124 lots.
Analysts said fresh positions built up by participants the following pick up in demand from consuming industries in the physical market and metal's gain overseas, mainly influenced aluminum prices at futures trade.
Lead
Supported by rising demand from battery makers, lead rose 0.17 percent in futures trade Tuesday as speculators built up fresh positions
At the Multi Commodity Exchange, lead for delivery in the current month was up 25 paise, or 0.17 percent, at Rs 146.95 per kg, in a business turnover of 343 lots.
According to market analysts, rising demand from battery makers at spot markets but a weak trend overseas capped the gains.
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