Nickel futures up on global cues; spot demand

Tracking firming trend in base metals overseas and pick up in domestic demand, nickel futures traded 0.80 per cent higher today.  

At the Multi Commodity Exchange, nickel for delivery in April contract traded Rs 10.40, or 0.80 per cent, higher at Rs 1,303.10 per kg, with a business turnover of 229 lots.

The metal for delivery in March contract rose Rs 10, or 0.78 per cent, to Rs 1,297.30 per kg, with a business turnover of 2,748 lots.

Market analysts attributed the rise in nickel futures to the strong domestic demand from alloy makers and a firming trend overseas.