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Nickel prices moved up by 0.61% to Rs 1,156.40 per kg in futures market today after speculators enlarged positions, tracking a firming trend in spot market on increased demand from alloy-makers.
Besides, an encouraging trend in copper and other base metals in the global markets supported the upside.
At the Multi Commodity Exchange, nickel for delivery in August gained Rs 7, or 0.61%, to Rs 1,156.40 per kg in business turnover of 663 lots.
In a similar manner, the metal for delivery in September rose by Rs 5.60, or 0.48%, to Rs 1,160.50 per kg in 25 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in select base metals overseas, influenced nickel futures here.
