Tracking a firming trend in base metals overseas and strong domestic demand, nickel futures traded higher by 0.86 per cent today.
At the Multi Commodity Exchange counter, nickel for delivery in April traded higher by Rs 11.30 or 0.86 per cent at Rs 1,319.50 per kg with a business turnover of one lot. Similarly, February contract rose marginally by 50 paise or 0.04 per cent to Rs 1,305.20 per kg with a business turnover of two lots.
At the London Metal Exchange (LME), nickel climbed 0.6 per cent to $28,750 a tonne.
Market analysts attributed the rise in nickel futures to a strong domestic demand from alloy makers and a firming trend at the LME, after the Federal Reserve raised its forecast for US economic growth.