Tracking a firming global trend, nickel prices surged by Rs 17.10 to Rs 1,160.50 per kg in futures trade today.
Increased demand at the spot markets from alloy-makers also supported the uptrend.
At the Multi Commodity Exchange, nickel for delivery in May rose by Rs 17.90, or 1.57%, to Rs 1,160.50 per kg, with a business turnover of three lots.
The April contract shot up by Rs 17.10, or 1.51%, to Rs 1,151.60, with an open interest of two lots.
Market analysts said increased demand from alloy-makers in the spot market also helped the metal to trade higher at the futures market.
Nickel rose by 1.6% to $25,805 a metric tonne on the London Metal Exchange.