Supported by a firming trend overseas and strong domestic demand, nickel futures prices rose by 0.48% to Rs 1,025.20 per kg today.
At the Multi Commodity Exchange, nickel for delivery in February rose by Rs 4.90, or 0.48%, to Rs 1,025.20 per kg, with a business turnover of 314 lots.
In a similar fashion, the metal for delivery in January gained Rs 4.60, or 0.45%, to Rs 1,020.10 per kg, with a business turnover of 1,707 lots.
At the London Metal Exchange, nickel rose by 0.6% to $20,330 per tonne, the highest since September 22.
Market analysts said a firming trend in metal at the LME after reports that Russia's OAO GMK Norilsk plans to trim production this year amid pick-up in demand from domestic alloy-makers, helped nickel futures to trade higher.
