Nickel extends gains on rising demand

Firming trend in overseas market supported nickel trade here

Nickel futures for February added Rs 2.30, or 0.23% to Rs 983.60 per kg in 4,293 lots.

At the Multi Commodity Exchange (MCX), the March contract edged up by Rs 2.20, or 0.22%, to Rs 988.50 per kg in 296 lots.

Prices rose as speculators enlarged positions, driven by rising demand from alloy-makers in the spot market.

Firming trend in overseas markets supported the uptrend here.

On the London Metal exchange (LME). nickel advanced 0.4% to $18,237 a tonne.