Nickel prices rose by 0.49 per cent to Rs 717.90 per kg in futures trade today as participants widened their bets, driven by pick up in demand in the spot market even as the metal weakened overseas in yesterday's trade.
At the Multi Commodity Exchange, nickel for delivery in August moved up by Rs 3.50 or 0.49 per cent to Rs 717.90 per kg in business turnover of 81 lots.
Similarly, the metal for delivery in July contracts edged up by Rs 3.40 or 0.48 per cent to Rs 711.80 per kg in 1,131 lots.
Analysts attributed rise in nickel futures to building-up of positions by traders due to pick up in demand from alloy- makers in the spot market.
They said, however, a weak global trend where nickel fell capped the rise.
