Nickel futures regains 0.5 per cent amidst rising demand in domestic markets

Buoyed by a firming trend in base metals overseas, nickel futures regained strength to trade 0.50 per cent higher at Rs 845.90 per kg today as speculators created fresh positions.

Furthermore, rising demand at domestic spot markets from alloy-makers supported the upside.

At Multi Commodity Exchange, nickel for delivery in June contracts rose Rs 4.20, or 0.50 per cent, to Rs 845.90 per kg in business turnover of 107 lots.

Metal for delivery in May was up Rs 3.80, or 0.46 per cent, to Rs 837.60 per kg in 2,210 lots.

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Posted in: Indian Market Tips