Nickel futures rose by Rs 11, or 1.16 per cent, to Rs 963.10 per kg at the Multi-Commodity Exchange after traders enlarged positions on expectations that demand for the metal might pick up.
Firming trend overseas on low London Metal Exchange inventories too supported rise in nickel futures.
At the MCX, the nickel contract for delivery in August rose further by Rs 11, or 1.16 per cent, to Rs 963.10 per kg with a turnover of 1,364 lots.
The metal for delivery in September also gained Rs 10.90, or 1.13 per cent, to Rs 971.70 per kg with a turnover of 292 lots.
Analysts said expectations that the demand may pick up from bulk consumers, particularly from alloy-makers, mainly influenced nickel prices at futures market here.
Besides, firming trend in copper and other base metals at the LME on low inventories, too gave a push to rising prices, they added.
