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Nickel prices gained 0.17% to Rs 930.50 per kg in futures market today as speculators enlarged positions amid a firming trend in spot market on increased demand from alloy makers.
Further, an encouraging trend in the metal in global markets supported the upside.
At the Multi Commodity Exchange, nickel for delivery in March gained Rs 1.60, or 0.17%, to Rs 930.50 per kg in a business turnover of 16 lots.
Similarly, the metal for delivery in February rose by Rs 1.20, or 0.13%, to Rs 922.30 per kg in 593 lots.
Analysts said besides rising demand from alloy-makers at domestic spot markets, a firming trend at the London Metal Exchange (LME), influenced nickel futures here.
