Nickel futures down, hit by profit-booking

Nickel futures traded 0.56 per cent down at Rs 654.20 per kg today as speculators reduced their exposure, in keeping with a weak trend at the domestic spot market due to low demand.
Besides, profit-booking weighed on sentiment.
At Multi Commodity Exchange, nickel for delivery this month shed Rs 3.70, or 0.56 per cent, to Rs 654.20 per kg in a business turnover of 1,192 lots.
The metal for delivery in September too fell by Rs 3.10, or 0.47 per cent, to trade at Rs 659 per kg in 21 lots.
Market analysts said the fall in nickel prices was mostly in tune with a weak trend in base metals at the domestic markets due to sluggish demand.