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Nickel prices rose by 0.55% to Rs 915.10 per kg in futures trade today as speculators indulged in creating positions, supported by a firming trend in the overseas market and increased demand from domestic alloy-makers.
At the Multi Commodity Exchange, nickel for delivery in December gained Rs 5, or 0.55%, to Rs 915.10 per kg, with a business turnover of 3 lots.
Similarly, the metal for delivery in October traded higher by Rs 1.20, or 0.13%, to Rs 901.30 per kg, in a turnover of 1,871 lots.
Market analysts said the rise in nickel futures prices was mostly attributed to a firming trend in select base metals in global markets and rising demand at domestic markets from alloy-makers.
