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Nickel prices moved up by 0.28% to Rs 986.80 per kg in futures market today as speculators enlarged their positions, tracking a firming trend in spot market on increased demand from alloy-makers even as metal weakened overseas.
At the Multi Commodity Exchange, nickel for delivery in April gained Rs 2.80, or 0.28%, to Rs 986.80 per kg in business turnover of 1,616 lots.
Similarly, the metal for delivery in May rose by Rs 2.70, or 0.27%, to Rs 993.30 per kg in 58 lots.
Market analysts said increased domestic demand from alloy-makers mainly supported the upside in nickel futures but metal's losses at the London Metal Exchange, limited the gains.
