Buoyed by firming trend at the London Metal Exchange and prospects of pick up in demand at domestic markets, nickel futures rose by 0.63 per cent to Rs 1,084.70 per kg today.
Pick up in demand, primarily from alloy makers at the domestic markets and weakening dollar also influenced nickel futures.
Analysts said the trading sentiment boosted by gains recorded by base metals in global markets on expectations that US Federal Reserve may provide more stimulus to boost the economic recovery and weakening dollar.
In addition, strong demand from alloy makers in the spot market also influenced the nickel prices in futures trade here, they said.
At the Multi Commodity Exchange counter, nickel contract for October delivery gained Rs 6.80, or 0.63 per cent, to Rs 1,084.70 per kg, with a turnover of four lots.
In a similar manner, nickel for November delivery also edged up by Rs 5, or 0.46 per cent, to Rs 1,091.10 per kg, with a business turnover of one lot.
Meanwhile, nickel climbed 0.6 per cent to $24,200 per tonne.
