 "Nickel up by 0.2% on spot demand")
Nickel futures traded a shade higher at Rs 830.70 per kg today, mostly in line with a firming trend overseas, amid covering-up of short positions by speculators.
Besides, increased demand in spot markets from domestic alloy-makers influenced prices.
Nickel for delivery in June gained Rs 1.40, or 0.17%, to Rs 830.70 per kg in a business turnover of 175 lots in futures trading at the Multi Commodity Exchange.
Analysts said that apart from increased domestic demand from alloy-makers, short position covering in view of the approaching monthly expiry and a firming trend overseas drove the upside.
Besides, increased demand in spot markets from domestic alloy-makers influenced prices.
Nickel for delivery in June gained Rs 1.40, or 0.17%, to Rs 830.70 per kg in a business turnover of 175 lots in futures trading at the Multi Commodity Exchange.
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The metal for delivery in May contracts was up 20 paise, or 0.02%, to Rs 823.70 per kg in 582 lots.
Analysts said that apart from increased domestic demand from alloy-makers, short position covering in view of the approaching monthly expiry and a firming trend overseas drove the upside.