 "Nickel up 0.2% on spot demand, overseas cues")
Nickel prices moved up by 0.26% to Rs 898.70 per kg in futures market today after speculators enlarged their position amid increased demand in spot market from alloy-makers.
Besides, a firming trend in the base metals pack at the London Metal Exchange (LME) also supported the upside.
At the Multi Commodity Exchange, nickel for delivery in November gained Rs 2.30, or 0.26%, to Rs 898.70 per kg in business turnover of 13 lots.
Market analysts said increased domestic demand from alloy-makers and reports of a firming trend in copper and other base metals at the LME were responsible for the rise in nickel prices at futures trade here.
Besides, a firming trend in the base metals pack at the London Metal Exchange (LME) also supported the upside.
At the Multi Commodity Exchange, nickel for delivery in November gained Rs 2.30, or 0.26%, to Rs 898.70 per kg in business turnover of 13 lots.
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Similarly, the metal for delivery in October rose by Rs 1.90, or 0.21%, to Rs 891 per kg in 359 lots.
Market analysts said increased domestic demand from alloy-makers and reports of a firming trend in copper and other base metals at the LME were responsible for the rise in nickel prices at futures trade here.