Nickel Futures Climb 1% On Spot Demand, Global Cues

Nickel futures were trading higher during the noon trade in the domestic market on Monday as speculators raised their bets, supported by uptick in demand at the domestic spot market.

Analysts attributed the rise in nickel futures to a fresh positions built up by traders after an uptick in demand from alloy-makers at domestic spot market and a firm trend overseas.

At the MCX, nickel futures for July 2018 contract is trading at Rs 968.50 per kg, up by 1 per cent, after opening at Rs 966.50, against a previous close of Rs 958.90. It touched the intra-day high of Rs 975.5 (at 14:05 hours).

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Suhani Verma

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