Nickel prices rose by Rs 4.90 to Rs 1,144.30 per kg in futures trading today as speculators indulged in enlarging their positions, buoyed by a firming global trend.
Increased demand from alloy-makers also supported the uptrend.
At the Multi Commodity Exchange, nickel for delivery in April rose by Rs 4.90, or 0.43%, to Rs 144.30 per kg, with a business turnover of two lots.
Similarly, the metal for delivery in May moved up by Rs 4.70, or 0.41%, to Rs 1,152.60 per kg, with an open interest of a single lot.
Market analysts said besides a firming trend overseas, increased offtake by alloy-makers helped nickel futures prices to move up.
Meanwhile, nickel added 0.4% to $ 25,595 a metric tonne on the London Metal Exchange.
