NEW DELHI, Aug 26: Nickel prices moved up by 0.98 per cent to Rs 937.60 per kg in futures market today as speculators enlarged their positions, tracking a firming trend in Asian trade.
Besides, an encouraging trend in the domestic spot markets on the back of strong demand from alloy-makers supported the upside.
At the Multi Commodity Exchange, nickel for delivery in August gained Rs 9.10, or 0.98 per cent, to Rs 937.60 per kg in business turnover of 639 lots.
Similarly, the metal for delivery in September rose by Rs 9, or 0.96 per cent, to Rs 945.20 per kg in 97 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in base metals at the Shanghai Futures Exchange, as plunge in new homes sales in July raised speculation that Federal Reserve may hold off on curbing US stimulus in September, also influenced nickel futures here. (PTI)
Trending Now
E-Paper
Follow our WhatsApp channel