NEW DELHI, Oct 24: Supported by a firming trend overseas and strong demand at the domestic market, nickel continued its upward journey with prices moving up by another 0.44 per cent to Rs 774.30 per kg in futures trading today as traders participants widened their bets.
At the Multi Commodity Exchange, nickel for delivery in current month contracts was trading higher by Rs 3.40 or 0.44 per cent to Rs 774.10 per kg in business turnover of 119 lots.
Metal for delivery in November also rose by a similar margin to trade at Rs 779.30 per kg in 119 lots.
Analysts attributed the persistent rise in nickel futures to widening of positions by participants on the back of firm global trend.
Besides, strong demand from alloy-makers at the domestic spot markets supported the upside, they said. (PTI)
Trending Now
E-Paper
Follow our WhatsApp channel