 "Nickel futures up 0.38% on global cues, firm demand")
Nickel prices moved up by 0.38% to Rs 847.20 per kg in futures market today as speculators enlarged positions, tracking a firming trend overseas and increased demand from alloy-makers in the domestic spot market.
At the Multi Commodity Exchange, nickel for delivery in November gained Rs 3.20, or 0.38%, to Rs 847.20 per kg in business turnover of 482 lots.
Similarly, the metal for delivery in December rose by Rs 3, or 0.35%, to Rs 857.60 per kg in 17 lots.
Market analysts said apart from increased domestic demand from alloy-makers, a firming trend in metal at the London Metal Exchange, supported the upside in nickel futures here.
At the Multi Commodity Exchange, nickel for delivery in November gained Rs 3.20, or 0.38%, to Rs 847.20 per kg in business turnover of 482 lots.
Similarly, the metal for delivery in December rose by Rs 3, or 0.35%, to Rs 857.60 per kg in 17 lots.
Market analysts said apart from increased domestic demand from alloy-makers, a firming trend in metal at the London Metal Exchange, supported the upside in nickel futures here.