Tracking a weak trend at the domestic spot market due to low demand, nickel prices fell by 0.91 per cent to Rs 793.30 per kg in futures market today as participants cut down bets.
Furthermore, profit-booking by speculators, weighed on the prices.
At the Multi Commodity Exchange, nickel for delivery in February was down by Rs 7.30 or 0.91 per cent, to Rs 793.30 per kg in a business turnover of 74 lots.
In a similar fashion, the metal for delivery in January traded Rs 7 or 0.91 per cent lower at Rs 788.50 per kg in 1,189 lots.
Analysts attributed the fall in nickel futures to offloading of positions by participants, tracking a weak trend at the domestic spot markets due to low demand from alloy- makers.
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