 "Nickel gains by 0.4% on global cues")
Nickel prices rose 0.42% to Rs 876.60 per kg in futures trading today as participants enlarged speculative positions.
Besides, rising demand at domestic spot markets from alloy makers, supported the upside.
At the Multi Commodity Exchange, nickel for delivery in February was trading higher by Rs 3.70, or 0.42%, at Rs 876.60 per kg in a business turnover of 585 lots.
Market analysts said besides rising domestic demand, a firming in base metals at London Metal Exchange (LME), a firming overseas trend after Greece reached a provisional deal with Eurozone Finance Ministers and ahead of housing data from the US, influenced the upside in nickel futures.
Meanwhile, nickel for delivery in three months climbed by $160, or 1.2%, to $14,115 per tonne at LME.
Besides, rising demand at domestic spot markets from alloy makers, supported the upside.
At the Multi Commodity Exchange, nickel for delivery in February was trading higher by Rs 3.70, or 0.42%, at Rs 876.60 per kg in a business turnover of 585 lots.
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The metal for delivery in March rose by a similar margin to trade at Rs 883.80 per kg in 48 lots.
Market analysts said besides rising domestic demand, a firming in base metals at London Metal Exchange (LME), a firming overseas trend after Greece reached a provisional deal with Eurozone Finance Ministers and ahead of housing data from the US, influenced the upside in nickel futures.
Meanwhile, nickel for delivery in three months climbed by $160, or 1.2%, to $14,115 per tonne at LME.