 "Nickel up by 0.8% on global cues")
Nickel prices went up by 0.78% to Rs 583.40 per kg in futures trade today as speculators raised their bets, driven by a firming trend overseas and pick-up in demand at the domestic spot markets.
In futures trading at the Multi Commodity Exchange, nickel for delivery in January Rs 4.50, or 0.78%, to Rs 583.40 per kg in a business turnover of nine lots.
Similarly, the metal for delivery in February was trading higher by Rs 4.50, or 0.77%, to Rs 589.20 per kg in nine lots.
Analysts said besides rising demand from alloy-makers at domestic spot markets, a firming trend in base metals at the London Metal Exchange (LME) after data showed China's economy expanding at 6.9% last year, close to the target set by the country's leadership, influenced nickel futures here.
In futures trading at the Multi Commodity Exchange, nickel for delivery in January Rs 4.50, or 0.78%, to Rs 583.40 per kg in a business turnover of nine lots.
Similarly, the metal for delivery in February was trading higher by Rs 4.50, or 0.77%, to Rs 589.20 per kg in nine lots.
Analysts said besides rising demand from alloy-makers at domestic spot markets, a firming trend in base metals at the London Metal Exchange (LME) after data showed China's economy expanding at 6.9% last year, close to the target set by the country's leadership, influenced nickel futures here.