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Nickel futures dropped by 0.26% to Rs 908.50 per kg today as speculators locked-in gains amid a weak trend overseas.
At the Multi Commodity Exchange, nickel for delivery in February fell by Rs 2.40, or 0.26%, to Rs 908.50 per kg in a business turnover of 19 lots.
The metal prices for January contracts fell by Rs 1.50, or 0.17%, to trade at Rs 901.60 per kg in a turnover of 242 lots.
Globally, nickel fell by 0.6% to $14,695 per tonne at the London Metal Exchange.
Market analysts said besides profit-booking, subdued spot demand at domestic markets and a weak trend in select base metals overseas mainly weighed on nickel futures here.
