Nickel futures soften by 0.53% on profit-booking
Nickel prices declined 0.53 per cent to Rs 747.20 per kg in futures market today as speculators booked profits amid subdued demand at the spot market.
At the Multi Commodity Exchange, nickel for delivery in November fell by Rs 4, or 0.53 per cent to Rs 747.20 per kg in a business turnover of 339 lots.
Likewise, the metal for delivery in December contracts was trading lower by Rs 3.50, or 0.46 per cent to Rs 752.30 per kg in 12 lots.
Marketmen said the slide in nickel prices in futures trade is mostly attributed to profit-booking by participants at existing levels and easing demand from alloy-makers in the physical market, led to decline in nickel prices at futures trade.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.