Nickel futures gain on firm spot demand

New Delhi, Feb 1 (PTI) Nickel prices on Monday rose by 0.72 per cent to Rs 1,295.90 per kg in futures trade as speculators built fresh positions on a rising demand from alloy makers in spot market.

On the Multi Commodity Exchange, nickel contracts for February delivery gained Rs 9.20, or 0.72 per cent, to Rs 1,295.90 per kg in a business turnover of 1,754 lots.

Rise in demand in spot market from alloy makers mainly supported the price rise in nickel futures, analysts said.