Nickel rises by 0.6% on global cues
Rising demand at domestic spot markets from alloy-makers also supported the upside
 "Nickel rises by 0.6% on global cues")
Buoyed by a firming trend in base metals overseas, nickel prices moved up by 0.56% to Rs 896.40 per kg in futures trading today on speculators creating fresh positions.
Besides, rising demand at domestic spot markets from alloy-makers also supported the upside.
At the Multi Commodity Exchange, nickel for delivery in January rose by Rs 5, or 0.56%, to Rs 891.40 per kg in business turnover of 427 lots.
Market analysts said a firming trend at the London Metal Exchange (LME) in base metals in yesterday's trade after a surge in credit growth eased concern that demand will slow in China, the world's top user, and this mainly led to rise in nickel futures here.
Besides, rising demand at domestic spot markets from alloy-makers also supported the upside.
At the Multi Commodity Exchange, nickel for delivery in January rose by Rs 5, or 0.56%, to Rs 891.40 per kg in business turnover of 427 lots.
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Metal for delivery in February was up 4.90, or 0.55% at Rs 903.60 in 20 lots.
Market analysts said a firming trend at the London Metal Exchange (LME) in base metals in yesterday's trade after a surge in credit growth eased concern that demand will slow in China, the world's top user, and this mainly led to rise in nickel futures here.