Nickel futures gain 0.21% on positive global cues

Taking positive cues from global markets, nickel prices were up by 0.21 per cent to Rs 777.60 per kg in futures trade today as speculators created fresh positions.
Besides, increased demand in spot markets from domestic alloy-makers, influenced nickel prices.
At the Multi Commodity Exchange, nickel for delivery in April month rose by Rs 1.60, or 0.21 per cent to Rs 777.60 per kg in business turnover of 23,936 lots.
Similarly, the metal for delivery in May contract traded higher by Rs 1.50, or 0.19 per cent to Rs 784.80 per kg in 564 lots.
Analysts attributed the rise in nickel futures to a firm global trend after data showed a rebound in Chinese manufacturing.

Globally, nickel for delivery in three months rose 1.1 per cent to USD 12,525 a metric tonne on the London Metal Exchange.