Supported by a firming trend overseas, nickel prices moved up by 1.06% to Rs 925.10 per kg in futures trade today.
Increased demand from alloy-makers in the spot market also influenced nickel futures prices.
t the Multi Commodity Exchange, November nickel rose by Rs 9.70, or 1.06%, to Rs 925.10 per kg, with an open interest for 4,635 lots.
The December contract was trading higher by Rs 9.70, or 1.05%, at Rs 932.60 per kg, with a trading volume of 257 lots.
Meanwhile, nickel advanced by 1.5% to $18,700 a tonne on the London Metal Exchange.
Analysts attributed the rise in nickel future prices to increased demand from domestic alloy-makers and a firming trend in metals in global markets following Greece's move to scrap a referendum on a proposed debt bailout package, coupled with an unexpected cut in borrowing costs by the European Central Bank, boosting prospects for metal demand.
