Tracking firm trends in other base metals overseas and strong domestic demand, nickel futures prices rose by Rs 10.20 to Rs 1,304.30 per kg today.
At the Multi Commodity Exchange, nickel for delivery in February rose by Rs 10.20, or 0.79 per cent, to Rs 1,304.30 per kg, with a turnover of three lots.
Similarly, the metal for delivery in March moved up by Rs 9.70, or 0.75 per cent, to Rs 1308.60 per kg, with a trade volume of just one lot.
At the London Metal Exchange, nickel gained 0.5 per cent to $28,500 a tonne, the highest level since May 2008.
Market analysts said apart from strong demand at the domestic markets from alloy makers, surge in base metals in overseas markets, also influenced the nickel futures prices here.