Nickel up 1.2% on higher overseas advices

Pick-up in demand from alloy makers triggered the uptrend

Nickel futures rose by Rs 11.60 to Rs 981 per kg today.

At the Multi Commodity Exchange, the February contract rose by Rs 11.60, or 1.20% to Rs 981 per kg in 723 lots.

The January contract traded higher by Rs 11.40, or 1.18% to Rs 974 per kg in 10,728 lots.

Analysts said increased buying by speculators, pick-up in demand from alloy-makers and higher overseas advices pushed up nickel futures.