Nickel prices moved up by over 1% to Rs 898.60 per kg in futures trade today, amid a firming trend in base metals overseas.
In addition, a pick-up in demand from alloy-makers in the spot market influenced nickel futures prices.
At the Multi Commodity Exchange, nickel for delivery in November rose by Rs 9, or 1.01%, to Rs 898.60 per kg, with an open interest for 5,145 lots.
Similarly, the metal for delivery in December was trading higher by Rs 8.20, or 0.91%, at Rs 908 per kg, with a trading volume of 10 lots.
Meanwhile, nickel advanced 1.8% to $17,250 a tonne on the London Metal Exchange (LME).
Analysts said besides increased demand from alloy-makers in the spot market, a rising trend in the base metals at the LME as softer dollar and expectations that Italy may secure financial aid as europe takes measures this week to ease euro zaone's debt crisis, also influenced copper futures prices here.
