Uptick in demand lifts nickel futures by 2.34%

Uptick in demand lifts nickel futures by 2.34%

21/11/2016 10:59

Nickel futures rose over 2 per cent during the morning trade in the domestic market on Monday as investors and speculators build up fresh positions in the industrial metal amid rise in physical demand for nickel from major consuming industries at the domestic spot market.

Further, nickel prices were up led by widening of positions by traders in the industrial metal amid uptick in physical demand from alloy-makers at the domestic spot markets. At the MCX, nickel futures for November 2016 contract is trading at Rs 758 per kg, up by 2.34 per cent, after opening at Rs 749.70, against a previous close of Rs 740.70. It touched the intra-day high of Rs 759 (at 10:58 hours).

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