Nickel futures up 0.97% on rising spot demand

Nickel prices were up by 0.97 per cent to Rs 709.90 per kg in the evening session at the Multi Commodity Exchange today as participants widened their positions amid firm spot demand.
The exchange remained closed for the morning session on account of 'Muharram''.
Nickel for delivery in November was trading higher by Rs 6.80 or 0.97 per cent to Rs 709.90 per kg in business turnover of 27 lots.
Similarly, the metal for delivery in current month rose by Rs 6.50 or 0.93 per cent to Rs 704.20 per kg in 1,095 lots.
Market participants said fresh positions built up by speculators, supported by a firm trend at the domestic spot markets, mainly influenced nickel prices at futures trade.