Nickel futures gain 0.37% on positive global cues

Nickel prices rose 0.37 per cent to Rs 1,162.40 per kg in futures trade today as speculators enlarged positions on positive cues from global markets.
Further, increased demand from alloy-makers in the spot market, supported the uptrend.
At the Multi Commodity Exchange, nickel for delivery in July traded higher by Rs 4.30, or 0.37 per cent, to Rs 1,162.40 per kg in a business turnover of 596 lots.
Similarly, the metal for delivery in August traded higher by Rs 4.10, or 0.35 per cent, to Rs 1,169 per kg in 36 lots.
Analysts attributed the rise in nickel futures to a firm global trend and rising demand at domestic spot markets from alloy-makers.