 "Nickel up 0.3% on global cues; spot demand")
Nickel prices moved up by 0.35% to Rs 852 per kg in the futures market today as speculators enlarged their positions, tracking a firming overseas trend amid spot demand.
At the Multi Commodity Exchange, nickel for delivery in August gained Rs 3.20, or 0.35%, to Rs 852 per kg in business turnover of 7,456 lots.
Nickel for delivery in September rose by Rs 3, or 0.34%, to trade at Rs 858.90 per kg in 252 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in base metals overseas after China's official manufacturing data unexpectedly strengthened, helped nickel futures to trade higher.
At the Multi Commodity Exchange, nickel for delivery in August gained Rs 3.20, or 0.35%, to Rs 852 per kg in business turnover of 7,456 lots.
Nickel for delivery in September rose by Rs 3, or 0.34%, to trade at Rs 858.90 per kg in 252 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in base metals overseas after China's official manufacturing data unexpectedly strengthened, helped nickel futures to trade higher.