Nickel futures prices fell by Rs 17.70, or 2.07 per cent to Rs 838 per kg, as traders engaged in offloading their positions, driven by weak global markets on euro debt problems.
Subdued demand at physical markets and worries about the slowing economic growth in China, also put some pressure on the nickel futures prices.
At the Multi Commodity Exchange counter, nickel for delivery in June contract traded Rs 17.70, or 2.07 per cent down at Rs 838 per kg, with a turnover of 20,278 lots.
The metal for delivery in August also fell sharply by Rs 15.70, or 1.82 per cent to Rs 845.60 per kg, clocking a business turnover of 85 lots.
Market analysts said a weak trend in base metals pack at the global markets, on weak US jobs data and the euro zone's debt woes influenced the nickel prices.
Besides, sluggish demand from domestic alloy makers at spot markets kept pressure on the metal prices in futures trade.
