 "Nickel falls by 0.4% on overseas cues")
Nickel fell 0.39% to Rs 1,042.40 per kg in futures trade today as speculators engaged in reducing positions amid a weak trend in global markets and subdued domestic demand.
At the Multi Commodity Exchange, nickel for delivery in current month eased by Rs 4.10, or 0.39%, to Rs 1,042.40 per kg in a business turnover of 1,645 lots.
The metal for delivery in January was also down by Rs 3, or 0.29%, to Rs 1,049.50 per kg in a turnover of 51 lots.
Analysts said the fall in nickel prices in futures trade was mostly in tune with a weakening trend in most industrial metals at the London Metal Exchange (LME) after data today showed industrial activity is contracting in China, the biggest consumer of base metals.
At the Multi Commodity Exchange, nickel for delivery in current month eased by Rs 4.10, or 0.39%, to Rs 1,042.40 per kg in a business turnover of 1,645 lots.
The metal for delivery in January was also down by Rs 3, or 0.29%, to Rs 1,049.50 per kg in a turnover of 51 lots.
Analysts said the fall in nickel prices in futures trade was mostly in tune with a weakening trend in most industrial metals at the London Metal Exchange (LME) after data today showed industrial activity is contracting in China, the biggest consumer of base metals.