NEW DELHI: Taking weak cues from the global markets coupled with profit booking by speculators, nickel futures prices fell by 0.54 per cent to Rs 1,033.70 a kg on Wednesday.
Squaring-up of positions by speculators in view of approaching monthly expiry, also kept some pressure on the metal futures here.
At the Multi Commodity Exchange counter, nickel for delivery in October fell to Rs 1,033.70 a kg, with a business turnover of one lot.
Similarly, the metal for delivery in November eased by Rs 5.20 or 0.49 per cent to Rs 1,046.70 a kg, recording a business turnover of three lots.
Marketmen said profit booking by speculators and weak trend in the entire base metals pack at the London Metal Exchange due to firming dollar, reduced appeal for commodities as an alternative investment, mainly put pressure on nickel futures here. — PTI
