Nickel rises 0.24% on global cues

Nickel futures rose by 0.24% to Rs 1,044.70 per kg today, taking positive cues from global markets.

At the Multi Commodity Exchange, the March contract for nickel rose by Rs 2.50, or 0.24%, to Rs 1,044.70 per kg, with a business turnover of 113 lots.

The February contract gained Rs 2.20, or 0.21%, to Rs 1,036.90 per kg, with a business turnover of 1,218 lots.

At the London Metal Exchange (LME), nickel increased 0.70% to $20,840 per tonne in early trade today.

Analysts said rising demand at domestic spot markets from alloy-makers, besides firming trend at the LME influenced nickel futures prices here.