 "Nickel up 0.5% on firm demand, global cues")
Nickel prices moved up by 0.53% to Rs 991.30 per kg in futures market today after speculators enlarged positions, tracking a firming trend in spot market on increased demand from alloy-makers.
Besides, an encouraging trend in copper and other base metals in the global markets supported the upside.
At the Multi Commodity Exchange, nickel for delivery in April gained Rs 5.20, or 0.53%, to Rs 991.30 per kg in business turnover of 675 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in select base metals overseas, influenced nickel futures here.
Besides, an encouraging trend in copper and other base metals in the global markets supported the upside.
At the Multi Commodity Exchange, nickel for delivery in April gained Rs 5.20, or 0.53%, to Rs 991.30 per kg in business turnover of 675 lots.
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In a similar fashion, the metal for delivery in May rose by Rs 5.30, or 0.53%, to Rs 997.40 per kg in 46 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in select base metals overseas, influenced nickel futures here.