Nickel futures gain on spot demand

New Delhi, Mar 20 () Nickel prices on Friday gained 1.99 per cent to Rs 871 per kg in futures trade as speculators built positions on rising demand from alloy-makers at spot market.

On the Multi Commodity Exchange, nickel contracts for March delivery gained Rs 17, or 1.99 per cent, to Rs 871 per kg in a business turnover of 4,280 lots.

Similarly, the metal for April delivery traded higher by Rs 15.60, or 1.84 per cent, at Rs 864 per kg in a business turnover of 102 lots.

Rising demand in spot market from alloy-makers mainly supported price rise in nickel futures, analysts said. VHP SHWSHW