Nickel futures edge down 0.13% tracking global trends

Nickel futures eased 0.13 per cent to Rs 604.30 per kg today as participants reduced their exposure amid a weak trend overseas.

At the Multi Commodity Exchange, nickel for delivery in April fell 80 paise, or 0.13 per cent, to Rs 604.30 per kg in a business turnover of 11 lots.

The metal for delivery in March shed 70 paise, or 0.12 per cent, to trade at Rs 598.30 per kg in a turnover of 869 lots.

Globally, nickel dropped 1.1 per cent at the London Metal Exchange (LME).

Market analysts said besides subdued spot demand at the domestic market, a weak trend in base metals at the LME as investors await central action on stimulating economic growth, weighed on nickel futures prices here.