Nickel prices rose by 0.23% to Rs 886.10 per kg in futures trade today, buoyed by rising domestic spot market demand and a firming trend overseas.
At the Multi Commodity Exchange, nickel for delivery in January moved up by Rs 2, or 0.23%, to Rs 886.10 per kg, with an open interest for 200 lots.
In a similar fashion, the metal for delivery in December gained Rs 1.70, or 0.19%, to Rs 877.40 per kg, with a trading volume of 3,619 lots.
Globally, nickel gained 0.6% to $16,850 per tonne on the London Metal Exchange (LME) in early trade today.
Market analysts said in addition to a pick-up in demand from alloy-makers in the spot market, gains registered by the metal on the LME helped nickel's rise in the futures market here.