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Nickel futures rise 0.95% as demand picks up

Press Trust of India  |  New Delhi 

Nickel prices gained 0.95 per cent to trade at Rs 807 per kg in futures trade on rising demand from alloy-makers at the spot market and amid firm trend overseas.

At the Multi Commodity Exchange, nickel for delivery in current month moved up by Rs 7.60, or 0.95 per cent, to Rs 807 per kg in a business turnover of 432 lots.

Metal for delivery in December also rose by a similar margin to trade at Rs 810.70 per kg in a business turnover of 93 lots.

Analysts said speculators enlarged positions on a firming trend at the domestic spot markets on better demand from alloy-makers and a firm trend int he base metals at the Metal Exchange, mainly influenced nickel prices in futures trade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 28 2016. 12:07 IST