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Nickel futures dropped 0.39% to Rs 889.30 per kg today as speculators locked in gains amid a weak trend in overseas markets.
At the Multi Commodity Exchange, nickel futures for delivery in March fell by Rs 3.50, or 0.39%, to Rs 889.30 per kg in a business turnover of 638 lots.
Nickel futures for delivery in April were down by Rs 3.30, or 0.37%, to trade at Rs 896.50 per kg in a turnover of 10 lots.
Weak sentiments in base metals and profit-booking pulled the metal prices down, said analysts, adding that a stronger US dollar at around 12-year high against the euro cut the appeal for metals traded in the currency.
