Supported by rising spot demand and positive global cues, nickel prices rose 0.69 per cent to Rs 836.90 per kg in futures trade Friday after participants widened their positions.
At the Multi Commodity Exchange, nickel for delivery in January was trading higher by Rs 5.70, or 0.69 per cent, to Rs 836.90 per kg in a business turnover of 652 lots.
The metal for delivery in February also gained Rs 4.70, or 0.56 per cent, at Rs 841.10 per kg in a business volume of 116 lots.
Meanwhile, at the London Metal Exchange, three-month nickel was trading higher at USD 11,760 per tonne.
Analysts attributed the rise in nickel prices in futures trade to strong demand from alloy-makers at the domestic spot markets and a firm trend overseas.
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