 "Nickel up by 0.7% in futures trade")
Buoyed by a firming trend in base metals overseas, nickel prices moved up 0.72% to Rs 688.40 per kg in futures trading today as speculators created fresh positions.
Furthermore, rising demand at the domestic spot market from alloy-makers also supported the upside.
At the Multi Commodity Exchange, nickel for delivery in current month contracts rose Rs 4.90, or 0.72%, to Rs 7688.40 per kg in a business turnover of 1,580 lots.
Analysts said a firming trend at the London Metal Exchange (LME) and pick up in industrial demand at the domestic market, mainly led to rise in nickel futures.
Furthermore, rising demand at the domestic spot market from alloy-makers also supported the upside.
At the Multi Commodity Exchange, nickel for delivery in current month contracts rose Rs 4.90, or 0.72%, to Rs 7688.40 per kg in a business turnover of 1,580 lots.
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Metal for delivery in November was up by Rs 4.60 or 0.64%, to Rs 695 per kg in 53 lots.
Analysts said a firming trend at the London Metal Exchange (LME) and pick up in industrial demand at the domestic market, mainly led to rise in nickel futures.
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