Nickel up 0.4% on firm demand
Prices rose as speculators enlarged their positions
)
Nickel prices moved up by 0.43% to Rs 833.70 per kg in futures market today as speculators enlarged their positions taking cues from a firming trend in spot markets.
Besides, rise in copper and other base metals in global markets also supported the upside, analysts said.
At the Multi Commodity Exchange (MCX), the May contract gained Rs 3.60, or 0.43%, to Rs 833.70 per kg in 435 lots.
The June contract rose by Rs 3.50 or 0.42%, to Rs 840 per kg in 47 lots.
Analysts said increased domestic demand from alloy-makers at spot markets influenced nickel futures contracts.
Besides, rise in copper and other base metals in global markets also supported the upside, analysts said.
At the Multi Commodity Exchange (MCX), the May contract gained Rs 3.60, or 0.43%, to Rs 833.70 per kg in 435 lots.
The June contract rose by Rs 3.50 or 0.42%, to Rs 840 per kg in 47 lots.
Analysts said increased domestic demand from alloy-makers at spot markets influenced nickel futures contracts.
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: May 22 2013 | 2:21 PM IST