In range-bound movements, nickel futures rose by 0.26% to Rs 1,008.20 per kg today, as speculators created fresh positions, driven by a rising demand from alloy-makers in the spot markets.
At the Multi Commodity Exchange, January nickel rose by Rs 2.60, or 0.26%, to Rs 1,008.20 per kg, with a business turnover of 1,783 lots.
The Februrary delivery gained Rs 2.50, or 0.25%, to Rs 1,013.80 per kg, in 192 lots.
Market analysts said fresh positions built-up by speculators on the back of a firming trend in the domestic spot markets due to a pick-up in demand from alloy-makers, helped nickel futures to trade higher.