 "Nickel up 0.9% on firm demand, global cues")
Nickel prices moved up by 0.91% to Rs 974.20 per kg in futures trade today after speculators enlarged positions, tracking a firming trend in spot market on increased demand from alloy-makers.
Besides, an encouraging trend in select base metals in the global markets supported the upside.
At the Multi Commodity Exchange, nickel for delivery in December gained Rs 8.80, or 0.91%, to Rs 974.20 per kg in business turnover of 1,076 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in select base metals overseas at the London Metal Exchange (LME) influenced nickel futures here.
Besides, an encouraging trend in select base metals in the global markets supported the upside.
At the Multi Commodity Exchange, nickel for delivery in December gained Rs 8.80, or 0.91%, to Rs 974.20 per kg in business turnover of 1,076 lots.
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In a similar manner, the metal for delivery in January rose by Rs 8, or 0.82%, to Rs 982 per kg in 159 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in select base metals overseas at the London Metal Exchange (LME) influenced nickel futures here.