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Nickel futures gain on firm demand

Press Trust of India  |  New Delhi 

Nickel prices on Wednesday rose Rs 3.50 to Rs 1,175 per kg in futures trade as speculators raised their bets, driven by firm demand in spot market.

On the Multi Commodity Exchange, nickel contracts for November delivery rose Rs 3.50, or 0.3 per cent, to Rs 1,175 per kg in 5,835 lots.

Similarly, the metal for December delivery gained Rs 2, or 0.17 per cent, to Rs 1,169.20 per kg in 15 lots.

Analysts said raising of bets by participants largely on increased demand from alloy-makers in domestic market mainly influenced nickel prices here.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, November 06 2019. 13:25 IST