Nickel futures edged higher on MCX as speculators enlarged their holdings, driven by improved demand from alloy-makers and other consuming industries at the spot market. Besides, a firming trend in base metals at the London Metal Exchange (LME) also fuelled the uptrend.
The contract for August delivery was trading at Rs 688.00, up by 0.38% or Rs 2.60 from its previous closing of Rs 685.40.The open interest of the contract stood at 17505.00 lots.
The contract for September delivery was trading at Rs 694.10, up by 0.43% or Rs 3.00 from its previous closing of Rs 691.10. The open interest of the contract stood at 2765.00 lots on MCX.