Nickel futures succumb to profit-booking, down 0.30%

Nickel futures traded 0.30 per cent lower at Rs 756.10 per kg today as participants lowered their exposure to book profit.

Besides, a weak trend in base metals at the London Metal Exchange (LME) weighed.

At the Multi Commodity Exchange, nickel for delivery in November fell by Rs 2.30, or 0.30 per cent, to Rs 756.10 per kg, in a business turnover of 847 lots.

Also, metal for delivery in December came down by Rs 2.20, or 0.29 per cent, to trade at Rs 760.60 per kg in 55 lots.

At the LME, nickel for three-month delivery fell 0.6 per cent to USD 11,585 per tonne.
 

Market analysts said profit-booking and a weak trend in base metals at the LME mainly led to fall in nickel prices in futures trade here.