Nickel prices gained 1.76 per cent to Rs 872.60 per kg in futures trade today as participants widened their bets, driven by positive global cues and pick up in demand in the domestic spot market.
At the Multi Commodity Exchange, nickel for delivery in January was trading higher by Rs 15.10, or 1.76 per cent, at Rs 872.60 per kg, in a business turnover of 1,596 lots.
On similar lines, the metal for delivery in February traded higher by Rs 14.50, or 1.69 per cent, to Rs 875 per kg in 278 lots.
Analysts attributed the rise in nickel futures to a pick up in demand from alloy-makers in the spot market and a firming trend in base metals at the London Metal Exchange (LME), supported by weakness in the US dollar.
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