Nickel up 0.3% on global cues
Metal for delivery in October gained 0.29%
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Buoyed by a firming trend overseas, nickel prices rose 0.34% to Rs 1,088.80 per kg in futures trading today as participants enlarged speculative positions.
Besides, rising demand at domestic spot markets from alloy-makers also supported the upside.
At the Multi Commodity Exchange, nickel for delivery in September rose Rs 3.70, or 0.34%, to Rs 1,088.80 per kg in a business turnover of 538 lots.
The metal for delivery in October gained Rs 3.20, or 0.29%, to trade at Rs 1,096.20 per kg in 20 lots.
Market analysts said besides rising domestic demand, a firming trend in the base metals pack at the London Metal Exchange (LME), mainly led to the rise in nickel futures here.
Besides, rising demand at domestic spot markets from alloy-makers also supported the upside.
At the Multi Commodity Exchange, nickel for delivery in September rose Rs 3.70, or 0.34%, to Rs 1,088.80 per kg in a business turnover of 538 lots.
The metal for delivery in October gained Rs 3.20, or 0.29%, to trade at Rs 1,096.20 per kg in 20 lots.
Market analysts said besides rising domestic demand, a firming trend in the base metals pack at the London Metal Exchange (LME), mainly led to the rise in nickel futures here.
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First Published: Sep 19 2014 | 11:06 AM IST