Nickel futures decline 0.12% on profit-booking

Nickel futures traded lower by 0.12 per cent to Rs 688.80 per kg trade today due to profit-booking by speculators amid sluggish demand from consuming industries at domestic spot markets.
At the Multi Commodity Exchange, nickel for delivery in August month moved down by 80 paise, or 0.12 per cent, to Rs 688.80 per kg in business turnover of 9,439 lots.
Likewise, the metal for delivery in September contracts traded lower by 40 paise, or 0.06 per cent, to Rs 695.10 per kg in 261 lots.
Analysts said the fall in nickel prices in futures trade is mostly attributed to a profit-booking by participants and easing demand from alloy-makers at spot market.