BS:Nickel down 0.15% on subdued demand, profit-booking
Amid sluggish spot demand and profit-booking by speculators, nickel prices declined by Rs 1.30 to Rs 866.10 per kg in futures trading today.
However, nickel's gain in the overseas markets restricted the fall.
At the Multi Commodity Exchange, nickel for delivery in August fell by Rs 1.30, or 0.15%, to Rs 866.10 per kg, with a business turnover of 2,075 lots.
September nickel fell by a similar margin to trade at Rs 877.40 per kg in a turnover of 273 lots.
Marketmen said besides subdued demand at spot markets, profit-booking by speculators led to the fall in nickel futures prices.
Gains in base metals at the London Metal Exchange on hopes that the China will take steps to stimulate economy restricted the losses.
