Nickel futures zoom 1.46% on uptick in demand

Nickel futures zoom 1.46% on uptick in demand

25/10/2016 16:38

Nickel futures were trading higher during the evening trade in the domestic market on Tuesday as investors and speculators build up fresh bets in the industrial metal amid an increase in physical demand for nickel from major consuming industries in the domestic spot market. The prices of nickel rise due to raising of positions by participants in the industrial metal on account of upsurge in spot demand from alloy-makers at domestic spot markets.

At the MCX, nickel futures for October 2016 contract is trading at Rs 687.50 per kg, up by 1.46 per cent, after opening at Rs 680.40, against a previous close of Rs 677.60. It touched the intra-day high of Rs 688.30 (at 16:41 hours).

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