Nickel futures jumped by more than 1% during evening trade in the domestic market on Tuesday as investors and speculators extended their bets in the industrial metal on pick-up in demand from alloy-makers at the domestic spot markets, and amidst modestly better-than-expected Chinese industrial output growth in November. 

Further, China reported retail sales jumped 10.8%, better than the 10.1 % rise seen y-o-y for November, along with industrial production that gained 6.2%, a tick better than the expected 6.1% increase and fixed asset investment came in as seen up 8.3%. At the MCX, nickel futures for December 2016 contract is trading at Rs 773.30 per kg, up by 1.39%, after opening at Rs 766, against a previous close of Rs 762.70. It touched the intra-day high of Rs 774.

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