Nickel futures surge during evening trade in the domestic market on Wednesday as investors and speculators widened their positions in the industrial metal on rising bets that global manufacturing activity will return to a firmer footing next year.

Further, new orders for the US factory goods recorded their biggest surge in nearly 1-1/2 years in the October month, moreover evidence that the manufacturing sector is gradually recovering and as demand signals from China also improved, buoyed nickel prices. At the MCX, nickel futures for December 2016 contract is trading at Rs 789.70 per kg, up by 0.47 per cent, after opening at Rs 786.50, against a previous close of Rs 786. It touched the intra-day high of Rs 795.10.

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