Nickel futures fall 0.35% on profit-booking

Nickel futures traded 0.35 per cent lower at Rs 1,039.50 per kg today as participants reduced their exposure to book profit amid muted demand from alloy-makers and weak global cues.

At the Multi Commodity Exchange, nickel for delivery in June fell Rs 3.60, or 0.35 per cent, to Rs 1,039.50 per kg, in a business turnover of 358 lots.

Also, metal for delivery in July was trading Rs 3.70, or 0.35 per cent lower at Rs 1,043.60 per kg in 30 lots.

Market analysts said apart from weak global cues, profit-booking and subdued demand from alloy-makers, led to the fall in nickel prices in futures trade.