 "Nickel up by 0.3% on firm demand")
Nickel prices moved up by 0.29% to Rs 997.80 per kg in futures trade today after speculators enlarged positions, tracking a firming trend in spot market on increased demand from alloy-makers.
Besides, an encouraging trend in copper and other base metals in the global markets supported the upside.
At the Multi Commodity Exchange, nickel for delivery in January gained Rs 2.90, or 0.29%, to Rs 997.80 per kg in business turnover of 10 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in select base metals overseas at the London Metal Exchange (LME) influenced nickel futures here.
Besides, an encouraging trend in copper and other base metals in the global markets supported the upside.
At the Multi Commodity Exchange, nickel for delivery in January gained Rs 2.90, or 0.29%, to Rs 997.80 per kg in business turnover of 10 lots.
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In a similar manner, the metal for delivery in current month rose by Rs 1.40, or 0.14%, to Rs 990.60 per kg in 292 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in select base metals overseas at the London Metal Exchange (LME) influenced nickel futures here.
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