Nickel futures fall 0.42% on muted demand

Nickel prices fell by 0.42 per cent to Rs 876.40 per kg in futures trade Friday as traders cut bets tracking a weak trend at the spot market.

On the Multi Commodity Exchange, nickel for delivery in current month declined by Rs 3.70, or 0.42 per cent, to Rs 876.40 per kg in a business turnover of 8,494 lots.

Market analysts said the fall in nickel prices was mostly in sync with a weak trend at the spot market on muted demand from the alloy-makers.