Nickel futures gain 0.92 on increased demand

Nickel prices rose by 0.92 per cent to Rs 774.70 per kg in futures trade Friday as participants increased their bets amid pick-up in demand from alloy-makers in domestic markets amid positive global cues.

At the Multi Commodity Exchange, nickel for delivery in current month was up by Rs 7.10, or 0.92 per cent, to Rs 774.70 per kg in a business turnover of 16,451 lots.

Market analysts said expanding of positions by traders following hardening of demand from alloy makers helped nickel prices to trade higher.

Besides, a firm trend in the base metals pack in global markets influenced the nickel prices here, they said.

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