Nickel futures gain 0.28 pc on spot demand

Nickel prices rose 0.28 per cent to Rs 780.90 per kg in futures trade today as speculators enlarged positions on positive cues from spot markets.

At the Multi Commodity Exchange, nickel for delivery in current month traded higher by Rs 2.20, or 0.28 per cent, to Rs 780.90 per kg, in a business turnover of 651 lots.

The metal for delivery in October was higher by Rs 2, or 0.26 per cent, to Rs 785.10 per kg in 24 lots.

Market analysts attributed the rise in nickel futures to raising of bets by participants on the back of a firm trend at the domestic spot markets following increased demand from alloy-makers.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)