Nickel futures gain on spot demand

Nickel prices went up by Rs 15.40 per cent to Rs 1,256.60 per kg in futures trade on Thursday as speculators raised their bets, driven by firm demand at the spot market. At the Multi Commodity Exchange, Nickel for October delivery rose by Rs 15.40, or 1.24 per cent, to Rs 1,256.60 per kg in a business turnover of 4,797 lots.

Similarly, the metal for November delivery gained Rs 14.50, or 1.17 per cent, to Rs 1,248.60 per kg in 202 lots. Analysts said raising of bets by participants, largely on the back of increased demand from alloy-makers at domestic market mainly influenced nickel futures here.