Nickel futures slide 0.79% on weak spot cues

Nickel prices slipped 0.79 per cent to Rs 764.20 per kg in futures trade today as speculators cut down bets, tracking a subdued trend at spot market on sluggish demand.
At the Multi Commodity Exchange, nickel for delivery in December fell by Rs 6.10, or 0.79 per cent to Rs 764.20 per kg in a business turnover of 1163 lots.
Likewise, the metal for delivery in January contracts shed Rs 6, or 0.77 per cent to Rs 769.20 per kg in 131 lots.
Analysts said offloading of positions by participants due to fall in demand from alloy-makers in the physical market, mainly influenced nickel prices at futures trade.