 "Nickel up 0.3% on spot demand")
Nickel prices moved up by 1.02% to Rs 837.90 per kg in the futures market today as speculators enlarged their positions, tracking a firming trend in spot market on increased demand from alloy-makers.
Besides, an encouraging trend in copper and other base metals in the global markets supported the upside.
At the Multi Commodity Exchange, nickel for delivery in February gained Rs 9, or 1.02%, to Rs 887.90 per kg in business turnover of 2,690 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in base metals overseas influenced nickel futures here.
Besides, an encouraging trend in copper and other base metals in the global markets supported the upside.
At the Multi Commodity Exchange, nickel for delivery in February gained Rs 9, or 1.02%, to Rs 887.90 per kg in business turnover of 2,690 lots.
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The metal for delivery in March rose by Rs 8.50, or 0.96%, to trade at Rs 825.40 per kg in 114 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in base metals overseas influenced nickel futures here.