Nickel futures gained on MCX on increased demand in spot markets from domestic alloy-makers. Besides, firmness in metal at the London Metal Exchange (LME) on concern that Indonesia's ore export ban is reducing global supplies and as China's exports and importers unexpectedly rose in April, too supported the upside.
The contract for May delivery was trading at Rs 1147.00, up by 2.26% or Rs 25.40 from its previous closing of Rs 1121.60. The open interest of the contract stood at 15058.00 lots.
The contract for June delivery was trading at Rs 1153.00, up by 2.27% or Rs 25.60 from its previous closing of Rs 1127.40. The open interest of the contract stood at 1173.00 lots on MCX.
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