Nickel futures up 0.91% on strong domestic demand

Amid pick-up in demand from alloy-makers in domestic spot markets and firmness in select base metals overseas, nickel prices edged 0.91 per cent higher to Rs 777 per kg in futures trade today.
At the Multi Commodity Exchange, nickel for delivery in December gained Rs 7, or 0.91 per cent, to Rs 777 per kg in business turnover of 4,075 lots.
Similarly, the metal for delivery in January contracts rose Rs 7, or 0.90 per cent, to Rs 781.10 per kg in 802 lots.
Analysts attributed the rise in nickel prices in futures trade to expanding of positions by participants on the back of pick-up in demand from alloy-makers in the spot market and firm trend overseas.