Nickel futures edged higher on MCX as speculators enlarged their holdings due to rising demand from alloy makers at the spot market. Besides, robust Euro area data which showed an improvement in the region’s executive and consumer confidence signaling a pickup in the 19-member economy lifted the demand outlook for the industrial metal too supported nickel futures. The gauge measuring economic confidence in the Euro area climbed to 105.6 in September from a revised 104.1 in August.
The contract for September delivery was trading at Rs 657.50, up by 1.22% or Rs 7.90 from its previous closing of Rs 649.60. The open interest of the contract stood at 11128.00 lots.
The contract for October delivery was trading at Rs 664.00, up by 1.08% or Rs 7.10 from its previous closing of Rs 656.90. The open interest of the contract stood at 16704.00 lots on MCX.
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