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Nickel prices were up 0.32% to Rs 877.50 per kg in futures trade today as speculators enlarged positions amid a firming trend in the spot markets on rising demand from consuming industries.
At the Multi Commodity Exchange, nickel for delivery in December edged higher by Rs 2.80, or 0.32%, to Rs 877.50 per kg in a business turnover of 263 lots.
The metal for delivery in January also gained Rs 2.50, or 0.28%, to Rs 886.20 per kg in a turnover of 75 lots.
Market analysts said the rise in nickel prices at futures trade was mostly supported by firm demand at domestic spot markets from alloy-makers but absence of cues from the global markets, as the London Metal Exchange remained closed today for "Christmas" holiday, capped the gains.
