Taking cues from the global trend, nickel futures traded Rs 8.00 or 0.79 per cent higher at Rs 1,022.20 per kg today.
Better demand in the physical markets from domestic alloy makers also influenced the nickel prices to rise at futures market.
At the Multi Commodity Exchange counter, nickel for delivery in June contract rose Rs 8.00, or 0.79 per cent to Rs 1,022.20 per kg, with an open interest of 2,630 lots.
The metal for delivery in current-month May contract shot up by Rs 7.80, or 0.77 per cent to Rs 1,019.20 per kg, with an open interest of 10,140 lots.
Analysts attributed the recovery in nickel futures prices to strong demand in physical markets from domestic alloy makers and recovery in entire base metals pack at global markets.
At the London Metal Exchange, nickel rose $150, or 0.70 per cent to $21,500 a metric tonne.
