Published on 24/03/2017 5:18:21 PM | Source: Dion Global Solutions Ltd

Nickel futures in reverse gear on global cues

Posted in Top Stories| #MCX #Commodity #Nickel

Nickel futures were trading lower during evening trade in the domestic market on Friday as investors and speculators exited their positions in the industrial metal on firm US dollar as traders waited to see if US President Trump will face hurdles on his economic agenda after US lawmakers delayed a vote on healthcare bill.

Trump will get a second chance to try to close the deal with Republican lawmakers on dismantling Obamacare in a high-stakes vote on a new healthcare bill rescheduled for Friday. At the MCX, nickel futures for March 2017 contract is trading at Rs 649.90 per kg, down by 0.64 per cent, after opening at Rs 653.20, against a previous close of Rs 654.10. It touched the intra-day low of Rs 649.20