Nickel futures rise 0.47% on spot market

Nickel futures were trading higher during noon trade in the domestic market on Monday after traders enlarged positions amid pick up in spot demand at domestic markets. Market analysts attributed the rise in nickel futures to widening of positions by participants, following rise in demand from alloy makers in physical markets.

At the MCX, nickel futures for August 2019 contract is trading at Rs 1121.30 per kg, up by 0.47 per cent, after opening at Rs 1116.00, against a previous close of Rs 1116.00. It touched the intra-day high of Rs 1127.80.

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