Nickel futures fell by Rs 13.80, or 1.35 per cent to Rs 1,12.20 per kg in tandem with weakening trend overseas.
Subdued demand at physical markets too put pressure on the nickel prices at futures market here.
At the Multi Commodity Exchange counter, nickel for June fell by Rs 13.80, or 1.35 per cent to Rs 1,012.20 per kg in an open interest of 1,535 lots.
The metal for delivery in the current-month May contract also traded Rs 12.10, or 1.18 per cent down at Rs 1,012 per kg, clocking a business volume of 12,296 lots.
Market analysts said besides weakening trend in base metals in global market on euro zone debt concerns, weak demand for the metal at spot market also led to a fall in nickel prices at futures market.
At the London Metal Exchange, nickel traded $375 or 1.63 per cent at $22,625 per tonne.