Nickel rises by 0.3% on global cues

Nickel prices rose 0.26% to Rs 876 per kg in futures trading today as participants enlarged speculative positions, taking positive cues from global market.

Besides, rising demand at domestic spot markets from alloy-makers also supported the upside.

At the Multi Commodity Exchange, nickel for delivery in April rose by Rs 2.60, or 0.26%, to Rs 876 per kg in a business turnover of 35 lots.

The metal for delivery in March up Rs 2.40, or 0.24%, to trade at Rs 868.50 per kg in 1,769 lots.

Market analysts said besides rising domestic demand, particularly form alloy-makers, a firming in metal at London Metal Exchange (LME), influenced nickel futures.