)
Buoyed by a firming trend in base metals overseas, nickel prices moved up by 0.56% to Rs 896.40 per kg in futures trading today on speculators creating fresh positions.
Besides, rising demand at domestic spot markets from alloy-makers also supported the upside.
At the Multi Commodity Exchange, nickel for delivery in January rose by Rs 5, or 0.56%, to Rs 891.40 per kg in business turnover of 427 lots.
Metal for delivery in February was up 4.90, or 0.55% at Rs 903.60 in 20 lots.
Market analysts said a firming trend at the London Metal Exchange (LME) in base metals in yesterday's trade after a surge in credit growth eased concern that demand will slow in China, the world's top user, and this mainly led to rise in nickel futures here.
