Nickel marginally down on profit-booking

Nickel futures fell marginally by 0.08% to Rs 964.40 per kg today as speculators booked profits but a firm trend overseas, capped the losses.

At the Multi Commodity Exchange, January nickel traded 80 paise, or 0.08% lower at Rs 964.40 per kg, with a business turnover of 43 lots.

The December metal eased by 70 paise, or 0.07%, to Rs 957.30 per kg, with a business turnover of 1,639 points.  

Market participants said profit-taking by speculators led to a moderate decline in nickel futures prices but firmness in base metals at the London Metal Exchange, capped the losses.