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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.
