Nickel futures gain 0.08% on spot demand

Amid pick-up in demand from consuming industries at the domestic spot markets, nickel prices were marginally higher by 0.08 per cent to Rs 755.40 per kg in futures trade today as participants enlarged positions.

At the Multi Commodity Exchange, nickel for delivery in September moved up 60 paise, or 0.08 per cent to Rs 755.40 per kg, in a business turnover of 994 lots.

Likewise, the metal for delivery in October traded higher by 20 paise or 0.03 per cent to Rs 759.10 per kg in 11 lots.

Analysts said pick-up in demand from alloy-makers at the spot market, mainly led to the rise in nickel prices at futures trade here.