Nickel futures weaken on profit-booking; global cues

Nickel prices slipped by 0.38 per cent to Rs 883.40 per kg in futures trading Friday as participants booked profits at existing levels amid weak global cues.

In futures trading at the Multi Commodity Exchange, nickel for delivery in October month contracts was trading lower by Rs 3.40, or 0.38 per cent, to Rs 883.40 per kg in a business turnover of 10,210 lots.

Marketmen said profit-booking by participants at current levels and a weak trend in industrial metals overseas, led to the fall in nickel prices at futures trade here.