Nickel futures up on global cues, spot demand
The February delivery traded higher by Rs 2.70, or 0.31%, to Rs 876.30 per kg in five lots
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Nickel futures prices today rose by 0.39% to Rs 876.30 per kg after speculators enlarged their positions amid a firming trend overseas.
At the Multi Commodity Exchange, January nickel rose by Rs 3.40, or 0.39%, to Rs 868.50 per kg in business turnover of 602 lots.
The February delivery traded higher by Rs 2.70, or 0.31%, to Rs 876.30 per kg in five lots.
Market analysts said besides rising spot demand, a firming trend in base metals at the London Metal Exchange before data that may show expansion in US services and factory orders, boosting the demand outlook for industrial metals, helped nickel futures to trade higher.
At the Multi Commodity Exchange, January nickel rose by Rs 3.40, or 0.39%, to Rs 868.50 per kg in business turnover of 602 lots.
The February delivery traded higher by Rs 2.70, or 0.31%, to Rs 876.30 per kg in five lots.
Market analysts said besides rising spot demand, a firming trend in base metals at the London Metal Exchange before data that may show expansion in US services and factory orders, boosting the demand outlook for industrial metals, helped nickel futures to trade higher.
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First Published: Jan 06 2014 | 11:05 AM IST