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( As on 11/09/2017 13:02) Nickel futures up on pickup in demand

Nickel futures were trading higher during the afternoon trade in the domestic market on Monday as participants widened their bets, driven by pick-up in demand in the spot market.

Analysts attributed rise in nickel futures to building-up of positions by traders due to pick up in demand from alloy- makers in the spot market.

At the MCX, nickel futures for September 2017 contract was trading at Rs 744.10 per kg, up by 1.38 per cent, after opening at Rs 740, against a previous close of Rs 734. It touched the intra-day high of Rs 745.80. (at 13:03 hours).