Nickel futures climb 1.59% on overseas cues

Nickel futures climb 1.59% on overseas cues

23/01/2017 16:48

Nickel futures jumped over 1 per cent during evening trade in the domestic market on Monday as investors and speculators extended their positions in the industrial metal on US dollar weakness and as US President Trump reiterated plans to spend big on infrastructure.

Trump, in his inauguration speech on Friday, had promised to generate new investments to re-build highways, bridges, airports and other infrastructure.

At the MCX, nickel futures for January 2017 contract is trading at Rs 669.20 per kg, up by 1.59 per cent, after opening at Rs 665.30, against a previous close of Rs 658.70. It touched the intra-day high of Rs 675 (at 16:49 hours).

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