Supported by rising demand from alloy-makers in domestic spot markets, nickel prices moved up by 0.78 per cent to Rs 622.20 per kg in futures trade today as participants raised their bets.
Nickel for delivery in August moved up by Rs 4.80, or 0.78 per cent, to Rs 622.20 per kg, in a business turnover of 204 lots at the Multi Commodity Exchange.
Similarly, the metal for delivery in current month traded higher by Rs 4.60, or 0.75 per cent, to Rs 617.20 per kg in 1,785 lots.
Analysts attributed the rise in nickel prices at futures trade to raising of bets by participants, triggered by a firm trend at the domestic spot markets on increased demand from alloy-makers.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)