Nickel futures rise 0.24% on rising spot demand

Nickel prices advanced by 0.24 percent to Rs 959.40 per kg in futures trade today as participants raised bets, tracking a firm trend at the spot market.

At the Multi Commodity Exchange, nickel for delivery in September rose by Rs 2.30, or 0.24 percent, to Rs 959.40 per kg in business turnover of 26 lots.

On similar lines, the metal for delivery in August contracts edged up by Rs 1.80, or 0.19 percent, to Rs 953.90 per kg in 1,035 lots.

Analysts said widening of positions by traders on the back of surging demand from alloy-makers in the spot markets too supported the upmove at futures trade.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)