Nickel futures traded lower on MCX as speculators engaged in trimming positions amid a weak trend in global markets. Further, sluggish demand from alloy making industries in the spot market also impacted the trading sentiments.
The contract for May delivery was trading at Rs 1112.30, down by 2.11% or Rs 24.00 from its previous closing of Rs 1136.30. The open interest of the contract stood at 6137.00 lots.
The contract for June delivery was trading at Rs 1115.60, down by 2.13% or Rs 24.30 from its previous closing of Rs 1139.90. The open interest of the contract stood at 2901.00 lots on MCX.
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