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Nickel prices moved up by 0.87% to Rs 789.30 per kg in futures trade today as speculators enlarged their position, tracking a solid trend in spot market on increased demand from alloy-makers.
Besides, an encouraging trend in metal in the global markets supported the upside.
At the Multi Commodity Exchange, nickel for delivery in April contracts gained Rs 6.80, or 0.87%, to Rs 789.30 per kg in a business turnover of 1,249 lots.
The metal for delivery in May rose by Rs 6.30, or 0.80%, to trade at Rs 796.50 per kg in 33 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in copper and other base metal overseas influenced nickel futures here.
