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Nickel prices moved up by 0.91% to Rs 974.20 per kg in futures trade today after speculators enlarged positions, tracking a firming trend in spot market on increased demand from alloy-makers.
Besides, an encouraging trend in select base metals in the global markets supported the upside.
At the Multi Commodity Exchange, nickel for delivery in December gained Rs 8.80, or 0.91%, to Rs 974.20 per kg in business turnover of 1,076 lots.
In a similar manner, the metal for delivery in January rose by Rs 8, or 0.82%, to Rs 982 per kg in 159 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in select base metals overseas at the London Metal Exchange (LME) influenced nickel futures here.
