Nickel prices gained 0.91 per cent to Rs 578.10 per kg in futures trade today as participants widened their bets, driven by positive global cues and pick up in demand in the domestic spot markets.
At Multi Commodity Exchange, nickel for delivery in February was trading higher by Rs 5.20, or 0.91 per cent, to Rs 578.10 per kg, in a business turnover of 441 lots.
On similar lines, the metal for delivery in far-month March traded higher by Rs 5.20, or 0.90 per cent, to Rs 584.20 per kg in 62 lots.
Analysts attributed the rise in nickel futures to pick up in demand from alloy-makers in the spot market and a firming trend in base metals overseas as finance chiefs from the Group of 20 sought to shore up investors' confidence in global economic prospects, with the head of China's central bank saying that policy makers still have room to act.
