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Nickel futures up 1.03% on overseas cues, firm spot demand

Press Trust of India  |  New Delhi 

prices rose by 1.03 per cent to Rs 793.30 per kg in futures market on Wednesday after a firm global trend and domestic spot markets.

At the Multi Commodity Exchange, for delivery in current month gained Rs 8.10, or 1.03 per cent to Rs 793.30 per kg in a business turnover of 3,294 lots.

Analysts said raising of bets by participants, backed by a firm trend in the base metals pack in global markets, buoyed by a report that top metals consumer would try to boost spending on autos and home appliances this year and rising hopes of US and striking a trade deal, supported the uptrend in futures.

At the London Metal Exchange, three-month nickel traded higher at USD 11,265 per tonne.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 09 2019. 11:15 IST