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Nickel prices moved up by 0.39% to Rs 826.90 per kg in the futures market today as speculators enlarged their positions, tracking a firming trend overseas amid spot demand.
At the Multi Commodity Exchange, nickel for delivery in August gained Rs 3.20, or 0.39%, to Rs 826.90 per kg in business turnover of 31 lots.
The metal for delivery in July rose by Rs 2.50, or 0.31%, to trade at Rs 819.10 per kg in 1,066 lots.
Market analysts said apart from increased domestic demand from alloy-makers and firmness in base metals overseas, US Federal Reserve Chaimran Ben Bernanke said its huge stimulus programme would stay in place for some time that influenced metal prices at futures trade here.
