Buoyed by the firming trend at the London Metal Exchange (LME) and strong spot demand, nickel futures prices rose by Rs 5.30, or 0.47 per cent, to Rs 1,062.70 per kg today.
At the Multi Commodity Exchange counter, nickel for November delivery rose by Rs 5.30, or 0.50 per cent, to Rs 1,062.70 per kg, with a business volume of 274 lots.
Similarly, the metal for delivery in October moved up by Rs 5, or 0.47 per cent, to Rs 1,051.60 per kg, with a business turnover of 1,946 lots.
The recovery in nickel futures was mostly attributed to firming trend at the LME and strong demand from alloy makers at domestic markets, analysts said.
Meanwhile, nickel gained 0.40 per cent to $23,640 a metric tonne on the LME.