 "Nickel up 0.3% as demand picks up")
Nickel prices gained 0.27 per cent to Rs 817.80 per kg in futures trade today as speculators built up positions, supported by rising demand from alloy-makers in the spot market.
Besides, a firming trend in base metals at the London Metal Exchange supported the upside.
At the Multi Commodity Exchange, nickel for delivery in July contracts moved up by Rs 2.20, or 0.27 per cent, to Rs 817.80 per kg in a business turnover of six lots.
Analysts said speculators enlarged positions on a firming trend in metals overseas after China manufacturing data showed expansion, which mainly influenced nickel prices in futures trade.
Besides, a firming trend in base metals at the London Metal Exchange supported the upside.
At the Multi Commodity Exchange, nickel for delivery in July contracts moved up by Rs 2.20, or 0.27 per cent, to Rs 817.80 per kg in a business turnover of six lots.
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Similarly, the metal for delivery in June traded higher by Rs 1.80, or 0.22 per cent, to Rs 809.80 per kg in a business turnover of 564 lots.
Analysts said speculators enlarged positions on a firming trend in metals overseas after China manufacturing data showed expansion, which mainly influenced nickel prices in futures trade.