Nickel futures traded 0.28 per cent down at Rs 680.10 per kg today as speculators reduced their exposure, tracking a weak trend at the domestic spot markets due to low demand.
Besides, profit-booking weighed on the sentiment.
At the Multi Commodity Exchange, nickel for delivery this month shed Rs 1.90 or 0.28 per cent to Rs 680.10 per kg in a business turnover of 834 lots.
The metal for delivery in November too fell by Rs 1.70 or 0.25 per cent to trade at Rs 686 per kg in 82 lots.
Market analysts said the fall in nickel prices was mostly in tune with a weak trend in the base metals at the domestic markets due to sluggish demand but metal's strength overseas, capped the losses.
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