Nickel down 0.24% on weak global cues

Sluggish demand from alloy makers also pulled down the price

The nickel futures for January traded Rs 1.30, or 0.24% lower at Rs 963.20 per kg, in 1,002 lots at the Multi Commodity Exchange today.

The February contract declined by Rs 2, or 0.21%, to Rs 969.40 per kg, in 82 lots.

Sluggish demand from alloy makers, weakness in base metals at the London Metal Exchange (LME) influenced the futures trade.

US Federal officials saying they may end their $ 85 billion monthly bond-buying programme put pressure on nickel futures here.