Nickel prices rose by 1.03 per cent to Rs 793.30 per kg in futures market on Wednesday after a firm global trend and domestic spot markets.
At the Multi Commodity Exchange, nickel for delivery in current month gained Rs 8.10, or 1.03 per cent to Rs 793.30 per kg in a business turnover of 3,294 lots.
Analysts said raising of bets by participants, backed by a firm trend in the base metals pack in global markets, buoyed by a report that top metals consumer China would try to boost spending on autos and home appliances this year and rising hopes of US and China striking a trade deal, supported the uptrend in nickel futures.
At the London Metal Exchange, three-month nickel traded higher at USD 11,265 per tonne.