Nickel futures today rose by Rs 11.90, or 1.15 per cent, to Rs 1,046.70 per kg, taking cues from firming global markets.
Rising demand from alloy makers at spot markets also influenced the nickel futures prices, marketmen said.
At the Multi Commodity Exchange counter, the nickel contract for delivery in far-month November traded Rs 11.90, or 1.15 per cent, higher to Rs 1,046.70 per kg, with a turnover of seven lots.
The metal for delivery in current-month September also gained Rs 8.70, or 0.85 per cent, to Rs 1,029.50 per kg, with a turnover of 3,371 lots, while the stock for delivery in October contract inched up by Rs 8.70, or 0.84 per cent, to Rs 1,037.30 per kg, with a turnover of 216 lots..
Analysts attributed the rise in nickel futures to a firming trend in entire base metals pack at the London Metal Exchange after better-than-expected US jobs data.
Besides, strong spot demand at the physical markets from consuming industries, primarily alloy makers also supported the upside in nickel prices, they said.
