 "Nickel up 0.3% amid a firming trend")
Nickel prices were up 0.32% to Rs 877.50 per kg in futures trade today as speculators enlarged positions amid a firming trend in the spot markets on rising demand from consuming industries.
At the Multi Commodity Exchange, nickel for delivery in December edged higher by Rs 2.80, or 0.32%, to Rs 877.50 per kg in a business turnover of 263 lots.
The metal for delivery in January also gained Rs 2.50, or 0.28%, to Rs 886.20 per kg in a turnover of 75 lots.
Market analysts said the rise in nickel prices at futures trade was mostly supported by firm demand at domestic spot markets from alloy-makers but absence of cues from the global markets, as the London Metal Exchange remained closed today for "Christmas" holiday, capped the gains.
At the Multi Commodity Exchange, nickel for delivery in December edged higher by Rs 2.80, or 0.32%, to Rs 877.50 per kg in a business turnover of 263 lots.
The metal for delivery in January also gained Rs 2.50, or 0.28%, to Rs 886.20 per kg in a turnover of 75 lots.
Market analysts said the rise in nickel prices at futures trade was mostly supported by firm demand at domestic spot markets from alloy-makers but absence of cues from the global markets, as the London Metal Exchange remained closed today for "Christmas" holiday, capped the gains.