Nickel down 0.87% on profit-booking

Amid profit-booking by speculators, nickel prices fell by 0.87% to Rs 909 per kg in futures trade today.

At the Multi Commodity Exchange, the November contract for nickel fell by Rs 8, or 0.87% per cent, to Rs 909 per kg, with a business volume of 345 lots.

The October contract lost Rs 7.50, or 0.82%, to Rs 901.90 per kg, with a trade turnover of 3,667 lots.

Traders attributed fall in nickel prices at futures to profit-booking by speculators but metal's strength at the London Metal Exchange (LME), capped the losses.

Meanwhile, nickel gained $39, or 0.23%, to $17,114 a tonne at the London Metal Exchange.