Tracking a firming trend in the overseas markets on better demand outlook, nickel rose by 0.33% to Rs 935.80 per kg in futures trade today.
Strong demand in the spot markets from alloy-makers also influenced nickel futures.
At the Multi Commodity Exchange, nickel for delivery in June rose by Rs 3.10, or 0.37%, to Rs 935.80 per kg, with a business turnover of 1,732 lots.
July nickel edged up by Rs 3, or 0.32%, to Rs 943.80 per kg, with a business turnover of 420 lots.
Analysts attributed the rise in nickel futures prices to increased demand from alloy-makers in the spot market and a firming trend in copper and other base metals at the London Metal Exchange (LME).
Meanwhile, nickel gained as much as 0.33% to $16,475 a tonne at the LME on an improved demand outlook in the US after data showed new home sales surged in May to a two-year high.
