Nickel futures gain 0.36% on rising demand

Amid rising demand from consuming industries at the domestic spot markets, nickel prices strengthened by 0.36 per cent to Rs 607.70 per kg in futures trade today as participants enlarged their bets.
At the Multi Commodity Exchange, nickel for delivery in May went up by Rs 2.20, or 0.36 per cent, to Rs 607.70 per kg, in a business turnover of 810 lots.
On similar lines, the metal for delivery in June traded higher by Rs 1.90, or 0.31 per cent, to Rs 613 per kg in 152 lots.
Analysts said widening of positions by participants, tracking a firm trend at the spot market on rising demand from alloy-makers, mainly attributed the rise in nickel prices at futures trade.