Spot demand lifts nickel futures by 0.27 pc

Supported by rising demand from alloy-makers in domestic spot markets, nickel prices moved up by 0.20 per cent to Rs 800.80 per kg in futures trade today as participants enlarged their bets.

Nickel for delivery in November moved up by Rs 1.60 or 0.20 per cent to Rs 800.80 per kg, in a business turnover of 440 lots at the Multi Commodity Exchange.

The metal for delivery in December too rose marginally by 80 paise, or 0.10 per cent to Rs 805.50 per kg in 35 lots.

Analysts attributed the rise in nickel prices at futures trade to raising of bets by speculators following pick up in demand from alloy makers in the spot market.

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