Nickel futures surge 0.37% on spot demand

Nickel futures were trading higher during noon trade in the domestic market on Tuesday 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 September 2019 contract is trading at Rs 1227.90 per kg, up by 0.37 per cent, after opening at Rs 1223.50, against a previous close of Rs 1223.40. It touched the intra-day high of Rs 1232.00.

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