Nickel drops by 0.2% on profit-booking
Participants locked in gains amid a weak trend overseas
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Nickel futures dropped 0.23% to Rs 880.80 per kg today as participants locked in gains amid a weak trend overseas.
At the Multi Commodity Exchange, nickel for delivery in February eased by Rs 2, or 0.23%, to Rs 880.80 per kg in a business turnover of 412 lots.
The metal for delivery in March fell by Rs 1.80, or 0.20%, to trade at Rs 890 per kg in a turnover of 412 lots.
Market analysts said besides profit-booking, spot demand at domestic markets and a weak trend in base metals overseas ahead of manufacturing data from China, the world's biggest consumer, mainly weighed on nickel futures here.
At the Multi Commodity Exchange, nickel for delivery in February eased by Rs 2, or 0.23%, to Rs 880.80 per kg in a business turnover of 412 lots.
The metal for delivery in March fell by Rs 1.80, or 0.20%, to trade at Rs 890 per kg in a turnover of 412 lots.
Market analysts said besides profit-booking, spot demand at domestic markets and a weak trend in base metals overseas ahead of manufacturing data from China, the world's biggest consumer, mainly weighed on nickel futures here.
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First Published: Feb 27 2015 | 12:13 PM IST