Nickel futures prices rose by Rs 4.70, or 0.51 per cent, to Rs 1,048.70 per kg today, as traders enlarged fresh positions, driven by firming trend overseas and pick up in domestic demand.
At the Multi Commodity Exchange counter, nickel for delivery in October gained Rs 4.70, or 0.51 per cent, to Rs 1,048.70 per kg, with a business turnover of 2,317 lots.
Likewise, the metal for delivery in November moved up by Rs 5.50, or 0.51 per cent, to Rs 1,060.10 per kg, with a business turnover of 335 lots.
Analysts said besides firming trend in copper and other base metals at the London Metal Exchange, better demand from alloy makers in domestic spot markets, also influenced the nickel futures prices here.
