Nickel futures traded marginally higher by 0.24% to Rs 1,122 per kg after speculators enlarged their positions amid a firming trend at the London Metal Exchange (LME).
Better trend at the spot markets on the back of increased demand from alloy-makers also supported the upside in nickel futures prices here.
At the Multi Commodity Exchange, nickel for delivery in May traded Rs 3.70, or 0.24% higher at Rs 1,122 per kg, with a business turnover of 1,552 lots.
The metal for delivery in June also gained Rs 2.40, or 0.21% to Rs 1,132.20 per kg, with a turnover of 59 lots.
Market analysts said a firming trend in copper and other base metals at the LME, as a weaker dollar spurred demand for commodities, along with a firm domestic market trend on better demand, influenced the nickel futures prices here.
