Nickel futures prices drifted by Rs 8.80 to Rs 903.50 per kg, as traders booked profits at existing levels amid weak trend at the physical markets owing to subdued demand.
At the Multi Commodity Exchange counter, nickel for delivery in July contract traded Rs 8.80, or 0.96 per cent down at Rs 903.50 per kg with an open interest in 4,040 lots.
The metal for delivery in current month contract also fell by Rs 5, or 0.55 per cent to Rs 900 per kg, in an open interest of 18,874 lots.
Analysts said apart from profit-booking by traders, a weak trend in base metals at the global markets led to a fall in the nickel prices.
Besides, sluggish demand from domestic alloy makers at spot markets also put some pressure on the metal prices in futures trade.