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Nickel prices moved up by 0.20% to Rs 959.80 per kg in futures market today as speculators enlarged positions taking cues from a firming trend in spot markets even as the metal weakened overseas.
At the Multi Commodity Exchange, nickel for delivery in April gained 90 paise, or 0.20%, to Rs 959.80 per kg in business turnover of 34 lots.
The metal for delivery in March rose by Rs 1.90, or 0.17%, to Rs 954.90 per kg in 223 lots.
Analysts said increased domestic demand from alloy-makers at spot markets influenced nickel futures contracts but the metal's weakness at the London Metal Exchange, limited the gains.
