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Nickel prices were up by 0.71% to Rs 805.20 per kg in futures market today as speculators enlarged positions amid a firming trend in spot market on increased demand from alloy-makers.
Further, an encouraging trend in the base metals pack metals in the global markets, supported the upside.
At the Multi Commodity Exchange, nickel for delivery in May gained Rs 5.70 or 0.71% to Rs 805.20 per kg in a business turnover of 41 lots.
Similarly, the metal for delivery in April rose by Rs 5.20 or 0.66% to Rs 797.20 per kg in 557 lots.
Analysts said besides rising demand from alloy-makers at domestic spot markets, a firming trend at the London Metal Exchange before the release of US housing data, influenced nickel futures.
