Tepid demand from consuming industries in spot markets also weighed on the prices.
At the Multi Commodity Exchange, nickel for delivery in February fell by Rs 11.20, or 1.25 per cent, to Rs 883.20 per kg in a business turnover of 29,308 lots.
Likewise, the metal for delivery in March lost Rs 10.70, or 1.19 per cent, to Rs 887.90 per kg in 1,119 lots.
Analysts attributed the fall in nickel futures to profit-booking at existing levels by participants along with a weak global trend.
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