 "Nickel up by 0.34% on spot demand")
Nickel prices moved up by 0.34% to Rs 833.70 per kg in the futures market today as speculators enlarged their 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 August gained Rs 2.80, or 0.34%, to Rs 833.70 per kg in business turnover of 38 lots.
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The metal for delivery in July rose by Rs 2.20, or 0.27%, to trade at Rs 825.40 per kg in 716 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in base metals overseas influenced nickel futures here.