Nickel rises on global cues

Tracking a firm global trend, nickel prices rose by Rs 2.20 to Rs 941.10 per kg in futures trade today as speculators created fresh positions.

At the Multi Commodity Exchange, the October contract for nickel for delivery in October rose by Rs 2.20, or 0.23%, to Rs 941.10 per kg, with a business turnover of 7,032 lots.

The November contract traded higher by Rs 2, or 0.21%, to Rs 948.20 per kg, with an open interest of 405 lots.

Marketmen said fresh buying by speculators in line with a firm global trend mainly helped nickel futures to trade higher.

Meanwhile, nickel rose by 0.4% at $17,738 a tonne on the London Metal Exchange.