Nickel prices declined by over 1 per cent to trade at Rs 578 per kg in futures trade in the evening session today after speculators reduced exposures even as metal strengthened overseas.
The exchange opened for the evening session as it remained closed in the morning for 'Gurunanak Jayanti'.
In futures trading at the Multi Commodity Exchange, nickel for delivery in current month (November) fell by Rs 6, or 1.03 per cent, to Rs 578 per kg in a business turnover of 2,132 lots.
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Likewise, the metal for delivery in December traded lower by Rs 5.30, or 0.90 per cent, to Rs 584.40 per kg in 470 lots.
Analysts said the fall in nickel futures was mostly due to offloading of positions by participants even as the metal showed strength overseas.
Globally, nickel gained 0.1 per cent on the London Metal Exchange.
