Nickel futures decline on profit booking

Nickel futures declined on MCX as speculators booked profits at prevailing higher levels after demand declined from alloy-makers in the spot market. Besides, weakening trend in the copper and other base metals at the London Metal Exchange also dampened the sentiments. The contract for May delivery was trading at Rs 1094.90, down by 0.57% or Rs 6.30 from its previous closing of Rs 1101.20. The open interest of the contract stood at 9927.00 lots. The contract for June delivery was trading at Rs 1100.40, down by 0.51% or Rs 5.60 from its previous closing of Rs 1106.00. The open interest of the contract stood at 434.00 lots on MCX.