Nickel futures declined on MCX on account of subdued demand at domestic spot markets from alloy-makers. Further, a weakening trend in the base metals at the London Metal Exchange after manufacturing in April expanded less than estimated in China, the biggest consumer of the metals also weighed the sentiments.
The contract for May delivery was trading at Rs 1100.00, down by 0.73% or Rs 8.10 from its previous closing of Rs 1108.10. The open interest of the contract stood at 10888.00 lots.
The contract for June delivery was trading at Rs 1105.50, down by 0.71% or Rs 7.90 from its previous closing of Rs 1113.40. The open interest of the contract stood at 445.00 lots on MCX.
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