Nickel gains 0.16% on global cues

Spot demand contributes to uptrend

Nickel prices gained 0.16% to Rs 914.70 per kg in futures trading today as speculators created fresh positions in tandem with a firming global trend.

At the Multi Commodity Exchange, nickel for delivery in September gained Rs 1.50, or 0.16%, to Rs 914.70 per kg, with a business turnover of 2,575 lots.

August nickel traded higher by Rs 1.40, or 0.15%, to Rs 905.60 per kg, with a business turnover of 6,650 lots.

Marketmen said besides spot demand, a firming the global markets pushed up nickel prices at futures trade.

Meanwhile, nickel gained 0.1% to $16,315 a tonne on the London Metal Exchange.