 "Nickel futures gain 1.97% on spot demand, global cues")
Amid pick up in demand from consuming industries at the domestic spot markets and firm global cues, nickel prices traded higher at 1.97% to Rs 618.40 per kg in futures trade today.
At the Multi Commodity Exchange, nickel for delivery this month moved up by Rs 12.10 or 1.97% to Rs 624.80 per kg in a business turnover of 91 lots.
Likewise, the metal for delivery in current month traded higher by Rs 11.90 or 1.96% to Rs 618.40 per kg in 1,715 lots.
Analysts said besides pick up in demand, alloy-makers in the spot market ensured a firm trend in base metals in line with global markets, which attributed the rise in nickel prices at futures trade.
At the Multi Commodity Exchange, nickel for delivery this month moved up by Rs 12.10 or 1.97% to Rs 624.80 per kg in a business turnover of 91 lots.
Likewise, the metal for delivery in current month traded higher by Rs 11.90 or 1.96% to Rs 618.40 per kg in 1,715 lots.
Analysts said besides pick up in demand, alloy-makers in the spot market ensured a firm trend in base metals in line with global markets, which attributed the rise in nickel prices at futures trade.