 "Nickel by 0.7% on profit booking")
Nickel moved down 0.66% to Rs 696.90 per kg in futures trade today as speculators booked profits at prevailing levels amid decline in demand at the spot market.
Besides, weak trend in base metals at the London Metal Exchange fuelled the downtrend.
At Multi Commodity Exchange, nickel for delivery in September traded lower by Rs 4.60, or 0.66% to Rs 696.90 per kg in a business turnover of 170 lots.
Marketmen said the fall in nickel prices in futures trade was mostly due to low demand from alloy-makers and weak trend overseas.
Besides, weak trend in base metals at the London Metal Exchange fuelled the downtrend.
At Multi Commodity Exchange, nickel for delivery in September traded lower by Rs 4.60, or 0.66% to Rs 696.90 per kg in a business turnover of 170 lots.
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The metal for delivery in August contracts eased by Rs 4.10, or 0.59% to Rs 690.00 per kg in 6,597 lots.
Marketmen said the fall in nickel prices in futures trade was mostly due to low demand from alloy-makers and weak trend overseas.
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