Nickel futures gain on rising demand

Nickel futures gained on MCX on the back of rising demand at domestic spot markets from alloy makers. Further crimping supply that has been hit by Indonesia's ban on ore exports also supported the upsurge. The contract for May delivery was trading at Rs 1271.20, up by 0.66% or Rs 8.30 from its previous closing of Rs 1262.90. The open interest of the contract stood at 12898.00 lots. The contract for June delivery was trading at Rs 1276.90, up by 0.53% or Rs 6.70 from its previous closing of Rs 1270.20. The open interest of the contract stood at 2055.00 lots on MCX.