 "Nickel up 0.44% on global trend")
Nickel prices moved up by 0.44% to Rs 691.20 per kg in futures market today as speculators engaged in enlarging positions amid a firming trend overseas.
Besides, rising demand from alloy makers in the spot markets, supported the upside.
At the Multi Commodity Exchange, nickel for delivery in November gained Rs 3, or 0.44%, to Rs 691.20 per kg, in a business turnover of 20 lots.
Market analysts said apart from increased domestic demand from alloy makers, a firming trend in the metal at London Metal Exchange (LME), mainly supported the upside in nickel futures here.
Besides, rising demand from alloy makers in the spot markets, supported the upside.
At the Multi Commodity Exchange, nickel for delivery in November gained Rs 3, or 0.44%, to Rs 691.20 per kg, in a business turnover of 20 lots.
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In a similar fashion, the metal for delivery in October rose Rs 2.90, or 0.43%, to Rs 684.40 per kg in 640 lots.
Market analysts said apart from increased domestic demand from alloy makers, a firming trend in the metal at London Metal Exchange (LME), mainly supported the upside in nickel futures here.