Nickel prices gained 0.39 per cent to Rs 716.90 per kg in futures trade today as participants widened their bets, driven by pick up in demand in the spot market.
At the Multi Commodity Exchange, nickel for delivery in far-month September was trading higher by Rs 2.80, or 0.39 per cent to Rs 716.90 per kg in business turnover of six lots.
On similar lines, the metal for delivery in August contracts traded higher by Rs 2.60, or 0.37 per cent, to Rs 710.90 per kg in 577 lots.
Analysts attributed the rise in nickel futures to widening of positions by traders on the back of pick up in demand from alloy-makers in the spot market but weakness in the base metals pack at the London Metal Exchange capped the gains.
