Nickel prices gained Rs 5.10 to Rs 923.80 per kg in futures market today as traders enlarged their positions, driven by good demand for the metal from alloy-makers at spot markets.
At the Multi Commodity Exchange, nickel for September month rose by Rs 5.10, or 0.56 per cent to Rs 923.80 per kg with an open interest of 55 lots.
Similarly, the metal for delivery in July month gained Rs 2.90, or 0.32 per cent to Rs 913.30 per kg in 17528 lots.
Analysts said increased buying by speculators, supported by a pick up in demand from domestic alloy makers led to rise in nickel prices at futures trade but weakness in global markets, capped gains.