Nickel down 0.1% on profit-booking

Metal for delivery in April traded lower by 0.03%

Nickel prices fell 0.07% to Rs 869.80 per kg in futures trade today as speculators offloaded positions to book profits amid sluggish domestic demand.

However, metal's gain at the London Metal Exchange (LME), capped the losses.

At the Multi Commodity Exchange, nickel for delivery in March declined by Rs 3, or 0.07%, to Rs 869.80 per kg in a business turnover of 413 lots.

Also, the metal for delivery in April traded lower by Rs 1.70, or 0.03%, to Rs 878.10 per kg in 14 lots.

Analysts said profit-booking by speculators and subdued demand at spot markets pulled down nickel prices at futures trade but metal's strength at the LME, capped the losses here.