 "Nickel up by 0.9% on spot demand")
Nickel prices moved up by 0.87% to Rs 789.30 per kg in futures trade today as speculators enlarged their position, tracking a solid trend in spot market on increased demand from alloy-makers.
Besides, an encouraging trend in metal in the global markets supported the upside.
At the Multi Commodity Exchange, nickel for delivery in April contracts gained Rs 6.80, or 0.87%, to Rs 789.30 per kg in a business turnover of 1,249 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in copper and other base metal overseas influenced nickel futures here.
Besides, an encouraging trend in metal in the global markets supported the upside.
At the Multi Commodity Exchange, nickel for delivery in April contracts gained Rs 6.80, or 0.87%, to Rs 789.30 per kg in a business turnover of 1,249 lots.
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The metal for delivery in May rose by Rs 6.30, or 0.80%, to trade at Rs 796.50 per kg in 33 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in copper and other base metal overseas influenced nickel futures here.