 "Nickel surges by 0.3% on global cues")
Nickel prices gained 0.29% to Rs 1,027.90 per kg in the futures market today mostly in tune with a firming trend overseas amdist covering-up of short positions by speculators.
Besides, increased demand in spot markets from domestic alloy-makers, influenced nickel prices.
At the Multi Commodity Exchange, nickel for delivery in current month (September) gained Rs 3, or 0.29%, to Rs 1,027.90 per kg in a business turnover of 135 lots.
Markets analysts said apart from increased domestic demand from alloy-makers, a firming trend overseas, supported the upside.
Globally, nickel for delivery in three months at the London Metal Exchange traded a shade higher at $16,670 per tonne.
Besides, increased demand in spot markets from domestic alloy-makers, influenced nickel prices.
At the Multi Commodity Exchange, nickel for delivery in current month (September) gained Rs 3, or 0.29%, to Rs 1,027.90 per kg in a business turnover of 135 lots.
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The metal for delivery in October month contracts up by Rs 2.90, or 0.28%, to Rs 1,034.90 per kg in 175 lots.
Markets analysts said apart from increased domestic demand from alloy-makers, a firming trend overseas, supported the upside.
Globally, nickel for delivery in three months at the London Metal Exchange traded a shade higher at $16,670 per tonne.