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Nickel futures prices rose by 0.55% to Rs 870.90 per kg today after speculators enlarged positions tracking a firming trend in base metals overseas.
At the Multi Commodity Exchange, nickel for delivery in January rose by Rs 4.80, or 0.55%, to Rs 870.90 per kg in business turnover of 331 lots.
Similarly, the metal for delivery in February traded higher by Rs 3.90, or 0.45%, to Rs 879 per kg in eight lots.
Globally, nickel gained as much as 1.3%, the biggest gain since December 27, to $14,081 per tonne.
Market analysts said besides rising demand, particularly from domestic alloy-makers, a firming trend in copper and other base metals at the London Metal Exchange, helped nickel futures to trade higher.
