 "Nickel rises by 0.6% aided by global cues")
Supported by a firming trend overseas, nickel prices jumped 0.64% to Rs 772.80 per kg in futures trading today as participants widened their positions.
Besides, rising demand at domestic spot markets from alloy-makers also gave support.
At Multi Commodity Exchange, nickel for delivery in July rose Rs 4.90, or 0.64%, to Rs 772.80 per kg in a business turnover of 1,121 lots.
Marketmen said a firming trend in the base metal pack at the London Metal Exchange (LME) after data showed US factory activity and construction spending rose, pointing to improving demand in the world's second-biggest metals user, mainly led to the rise in nickel futures here.
Besides, rising demand at domestic spot markets from alloy-makers also gave support.
At Multi Commodity Exchange, nickel for delivery in July rose Rs 4.90, or 0.64%, to Rs 772.80 per kg in a business turnover of 1,121 lots.
Also Read
The metal for delivery in August contract also gained Rs 4.90, or 0.63%, to trade at Rs 780.20 per kg in 32 lots.
Marketmen said a firming trend in the base metal pack at the London Metal Exchange (LME) after data showed US factory activity and construction spending rose, pointing to improving demand in the world's second-biggest metals user, mainly led to the rise in nickel futures here.