Nickel traded higher by Rs 2.60 to Rs 869.60 per kg in futures trading today as speculators enlarged their positions on the back of a rise in demand from alloy-makers in the spot market.
A firming trend in global markets also influenced the nickel prices.
At the Multi Commodity Exchange, nickel for delivery in August rose by Rs 2.60, or 0.30%, to Rs 869.60 per kg, with a business turnover of 5,591 lots.
The September contract edged up by Rs 2.50, or 0.28%, to Rs 880 per kg in 580 lots.
Analysts said besides increased demand from alloy-makers in the spot market, a firming trend in metals at the London Metal Exchange (LME) mainly led to a rise in nickel futures.
Meanwhile, nickel advanced 0.3% to $15,565 a tonne on the London Metal Exchange.
