 "Nickel up 1.3% on global cues")
Buoyed by a rebound in base metals overseas, nickel prices recovered notably by Rs 12, to Rs 906.80 per kg in futures trading today as speculators created fresh positions.
Besides, rising demand at domestic spot markets from alloy-makers also supported the upside.
At the Multi Commodity Exchange, nickel for delivery in February rose by Rs 12, or 1.33%, to Rs 906.80 per kg in business turnover of 38 lots.
Market analysts said a firming at the London Metal Exchange (LME) where nickel posted its biggest gain in a week as a global rout in commodities paused and increased demand at domestic spot markets from alloy-makers, mainly led to rise in nickel futures here.
Meanwhile, nickel for delivery in three months contracts climbed 1.2% to 14,480 dollar a metric 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 February rose by Rs 12, or 1.33%, to Rs 906.80 per kg in business turnover of 38 lots.
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Metal for delivery in January too was trading Rs 10.80, or 1.22% higher at Rs 899.10 per kg in 1,006 lots.
Market analysts said a firming at the London Metal Exchange (LME) where nickel posted its biggest gain in a week as a global rout in commodities paused and increased demand at domestic spot markets from alloy-makers, mainly led to rise in nickel futures here.
Meanwhile, nickel for delivery in three months contracts climbed 1.2% to 14,480 dollar a metric tonne at the LME.