Nickel falls in futures trade on profit-booking, global cues

Nickel futures dropped 0.39 per cent 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 per cent, 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 per cent, 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.



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Posted in: Indian Market Tips