Nickel prices increased by Rs 9.10 or 1.02 per cent to Rs 900 per kg in futures market today, as traders enlarged their positions, supported by a rise in demand at spot markets.
Firming trend in the prices at the London Metal Exchange also influenced the trading at futures trade.
At the Multi Commodity Exchange counter, nickel for August contract shot up Rs 9.10, or 1.02 per cent to Rs 900 per kg, with an open interest of 128 lots.
The metal for delivery in July contract also jumped up by Rs 5.80, or 0.65 per cent to Rs 893.80 per kg, with a business turnover of 17,021 lots.
Analysts said brisk buying by traders, after reports of a firming trend in prices at the London Metal Exchange led to a rise in nickel prices at futures trade.
Meanwhile, nickel rose one per cent to $19,130 a metric tonne at the London Metal Exchange.