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Nickel prices moved up by 0.15% to Rs 792.90 per kg in futures market today after speculators enlarged positions, tracking a firming trend in spot market on increased demand from alloy-makers.
Besides, the metal's gain in global markets supported the upside.
At the Multi Commodity Exchange, nickel for delivery in April gained Rs 1.20, or 0.15%, to Rs 792.90 per kg in business turnover of 1,550 lots.
In a similar fashion, the metal for delivery in May rose 90 paise, or 0.11%, to Rs 800 per kg in 23 lots.
Market analysts said apart from hardening domestic demand from alloy-makers, firmness in base metal at the London Metal Exchange influenced nickel futures here.
