Nickel extended losses on MCX, as the markets remained hovering down on weak cues in metals space and profit booking from higher levels. Rise of Indian Rupee is making the markets prone to pressure from traders.
Indian Rupee now trades at 44.39 per Dollar, up 90 pips. Dollar is sideways trading at 1.3924 against EURO.
MCX Nickel benchmark contract is trading at Rs 1059.9 per kg, down Rs 13 or 1.18%. Markets are likely to find supports at Rs 1040 per kg.
China has also issued new regulations, which restrict home buyers to only one more home. The new rule was introduced in Shanghai from Thursday.
