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Nickel futures climb 1.59% on overseas cues

Nickel futures climb 1.59% on overseas cues

Nickel futures jumped over 1 % during evening trade in the domestic market on Monday as investors & speculators extended their positions in the industrial metal on US dollar weakness & as US President Trump reiterated plans to spend big on infrastructure.

Trump, in his inauguration speech on Friday, had promised to generate new investments to re-build highways, bridges, airports and other infrastructure.

At the MCX, nickel futures for January 2017 contract is trading at Rs 669.20/kg, upward by 1.59 %, after opening at Rs 665.30, against a last closing of Rs 658.70. It touched the intra-day max of Rs 675.

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