Nickel futures up 0.8% on global cues

Rising demand at domestic spot markets also supported the upside

Taking positive cues from the overseas market, nickel futures moved up by 0.85% to Rs 868.30 per kg today as speculators enlarged positions.

Besides, rising demand at domestic spot markets supported the upside.

At the Multi Commodity Exchange, nickel for delivery in April gained Rs 7.30, or 0.85%, to Rs 868.30 per kg in a business turnover of 100 lots.

In a similar fashion, the metal for delivery in current month (March) rose Rs 6.90, or 0.81%, to Rs 860.70 per kg in 1,067 lots.

Market analysts said apart from increased domestic demand from alloy-makers, firmness in the metal at London Metal Exchange, influenced nickel futures here.