 "Nickel up by 0.7% in futures trade")
Buoyed by a firming trend in base metals overseas, nickel prices moved up 0.72% to Rs 688.40 per kg in futures trading today as speculators created fresh positions.
Furthermore, rising demand at the domestic spot market from alloy-makers also supported the upside.
At the Multi Commodity Exchange, nickel for delivery in current month contracts rose Rs 4.90, or 0.72%, to Rs 7688.40 per kg in a business turnover of 1,580 lots.
Metal for delivery in November was up by Rs 4.60 or 0.64%, to Rs 695 per kg in 53 lots.
Analysts said a firming trend at the London Metal Exchange (LME) and pick up in industrial demand at the domestic market, mainly led to rise in nickel futures.
