 "Nickel gains by 0.3% on rising spot demand")
Supported by rising domestic demand, nickel prices traded higher by 0.32% to Rs 818.80 per kg in futures market today as speculators enlarged positions.
Firming trend in base metal in global markets further fuelled the uptrend.
At the Multi Commodity Exchange, nickel for delivery in July month rose by Rs 2.60, or 0.32% to Rs 818.80 per kg in business turnover of 200 lots.
Analysts said the rise in nickel prices in futures trade was mostly on the back of rising demand from alloy-makers in the spot market amid a firming trend in base metals in global markets.
Firming trend in base metal in global markets further fuelled the uptrend.
At the Multi Commodity Exchange, nickel for delivery in July month rose by Rs 2.60, or 0.32% to Rs 818.80 per kg in business turnover of 200 lots.
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In a similar fashion, the metal for delivery in June contracts went up by Rs 2.40, or 0.30% to Rs 811.80 per kg in 1,077 lots.
Analysts said the rise in nickel prices in futures trade was mostly on the back of rising demand from alloy-makers in the spot market amid a firming trend in base metals in global markets.