Nickel prices moved up by 1.22% to Rs 1,124.40 per kg in futures trade today as speculators enlarged their positions, tracking firming trend overseas.
Better trend at the spot markets on the back of pick-up in demand from alloy-makers also supported the upside in nickel futures prices here.
At the Multi Commodity Exchange, nickel for delivery in May traded Rs 13.50, or 1.22% higher at Rs 1,124.40 per kg, with a business turnover of 2,663 lots.
The metal for delivery in June gained Rs 13.60, or 1.21% to Rs 1,134.70 per kg, with a business volume of 180 lots.
Market analysts said a firming trend in copper and other base metals at the LME along with pick-up in demand from alloy makers at the domestic spot markets influenced nickel futures prices here.
