 "Nickel up 0.7% on global cues")
Nickel prices surged 0.74% to Rs 721.60 per kg in futures trading today as speculators widened positions taking positive cues from global market.
Moreover, rising demand at the domestic spot market from alloy-makers also supported the upside.
At the Multi Commodity Exchange, nickel for delivery in August rose Rs 5.30, or 0.74%, to Rs 721.60 per kg, in a business turnover of 248 lots.
Nickel prices surged largely in tandem with a firm trend in metal at London Metal Exchange (LME) and pick up in demand at the domestic spot markets, analysts said.
Moreover, rising demand at the domestic spot market from alloy-makers also supported the upside.
At the Multi Commodity Exchange, nickel for delivery in August rose Rs 5.30, or 0.74%, to Rs 721.60 per kg, in a business turnover of 248 lots.
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Metal for delivery in September was also up by Rs 5.10, or 0.71%, to Rs 727 per kg in 4 lots.
Nickel prices surged largely in tandem with a firm trend in metal at London Metal Exchange (LME) and pick up in demand at the domestic spot markets, analysts said.