Nickel down 0.4% on profit-booking, global cues

Metal for delivery in March traded lower by 0.39%

Amid profit-bookings by speculators and weak global trend, nickel prices softened by 0.45% to Rs 879.60 per kg in futures market today.

At the Multi Commodity Exchange, nickel for delivery in February declined by Rs 4, or 0.45%, to Rs 879.60 per kg in a business turnover of 973 lots.

In a similar fashion, the metal for delivery in March traded lower by Rs 3.50, or 0.39%, to Rs 887.10 per kg in 73 lots.

Market analysts said besides profit-booking by speculators, weak trend in overseas market weighed on nickel prices at futures trade.