Nickel futures gain 1.78 pc on positive global cues

Nickel prices rose 1.78 per cent to Rs 765.20 per kg in futures trade today as speculators enlarged positions on positive cues from global markets.
Besides, increased demand from alloy-makers in the domestic spot market, supported the uptrend.
At the Multi Commodity Exchange, nickel for delivery in current month was trading higher by Rs 13.40, or 1.78 per cent, to Rs 765.20 per kg, in a business turnover of 1,699 lots.
Similarly, the metal for delivery in January rose by Rs 13.50, or 1.78 per cent, to Rs 770.60 per kg in 56 lots.
Market analysts attributed the rise in nickel futures to a firm trend in industrial metals overseas as China's imports jumped the most in more than two years on strong demand for raw materials and rising demand from alloy-makers at the domestic spot markets.