Nickel up 1.5% on global cues
Metal for delivery in July rose 1.48%
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Taking positive cues from the overseas market, nickel futures moved up by 1.53% to Rs 1,086.40 per kg today as speculators enlarged positions.
Besides, rising demand at domestic spot markets supported the upside.
At the Multi Commodity Exchange, nickel for delivery in June gained Rs 16.40, or 1.53%, to Rs 1,086.40 per kg in a business turnover of 2,118 lots.
In a similar fashion, the metal for delivery in July rose Rs 15.90, or 1.48%, to Rs 1,091 per kg in 56 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in the metal at London Metal Exchange, influenced nickel futures here.
Besides, rising demand at domestic spot markets supported the upside.
At the Multi Commodity Exchange, nickel for delivery in June gained Rs 16.40, or 1.53%, to Rs 1,086.40 per kg in a business turnover of 2,118 lots.
In a similar fashion, the metal for delivery in July rose Rs 15.90, or 1.48%, to Rs 1,091 per kg in 56 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in the metal at London Metal Exchange, influenced nickel futures here.
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First Published: Jun 13 2014 | 12:12 PM IST