 "Nickel up 1.4% on global cues")
Buoyed by a firming trend overseas, nickel prices rose 1.47% to Rs 1,134 per kg in futures trading today as participants enlarged speculative positions.
Besides, rising demand at domestic spot markets from alloy-makers also supported the upside.
At the Multi Commodity Exchange, nickel for delivery in May rose Rs 16.40, or 1.47%, to Rs 1,134 per kg in a business turnover of 1,555 lots.
Market analysts said besides rising domestic demand, a firming at the London Metal Exchange (LME) on concern that supply would not meet demand this year, mainly led to the rise in nickel futures here.
Meanwhile, nickel for delivery in three months climbed two% to $19,399 per tonne at the LME.
Besides, rising demand at domestic spot markets from alloy-makers also supported the upside.
At the Multi Commodity Exchange, nickel for delivery in May rose Rs 16.40, or 1.47%, to Rs 1,134 per kg in a business turnover of 1,555 lots.
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The metal for delivery in June rose Rs 15.40, or 1.39%, to trade at Rs 1,139 per kg in 111 lots.
Market analysts said besides rising domestic demand, a firming at the London Metal Exchange (LME) on concern that supply would not meet demand this year, mainly led to the rise in nickel futures here.
Meanwhile, nickel for delivery in three months climbed two% to $19,399 per tonne at the LME.