Market and product
Nickel falls 0.36 pc in futures trade
NEW DELHI: Nickel prices fell by Rs 3.70, or 0.36 per cent, to Rs 1,054.70 per kg in futures market today after speculators locked in profits amid weak trend.
Absence of any cues from the global markets, as base metals remained flat at the London Metal Exchange ahead of the US Federal Reserve meeting, also cast its shadow on the sentiment.
At the Multi Commodity Exchange counter, nickel futures for September-month fell by Rs 3.70, or 0.36 per cent, to Rs 1,054.70 per kg, with a turnover of 860 lots.
The metal for delivery in October month also traded lower by Rs 3.60, or 0.34 per cent, to Rs 1,061.60 per kg, with a turnover of 82 lots.
Analysts said besides profit-taking by speculators, weak trend at spot markets due to sluggish demand also weighed on the nickel futures prices here.
Absence of any cues from the global markets, as base metals remained flat at the London Metal Exchange ahead of the US Federal Reserve meeting, also cast its shadow on the sentiment.
At the Multi Commodity Exchange counter, nickel futures for September-month fell by Rs 3.70, or 0.36 per cent, to Rs 1,054.70 per kg, with a turnover of 860 lots.
The metal for delivery in October month also traded lower by Rs 3.60, or 0.34 per cent, to Rs 1,061.60 per kg, with a turnover of 82 lots.
Analysts said besides profit-taking by speculators, weak trend at spot markets due to sluggish demand also weighed on the nickel futures prices here.
(Source :http://economictimes.indiatimes.com)
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