Nickel futures little changed

Nickel futures were little changed during evening trade in the domestic market on Friday as investors and speculators trimmed their positions in the industrial metal to book profits. The prices of nickel fell on Thursday after the US Fed increased interest rates for the first time in 2016 by 25 basis points and indicated more may come next year, which boosted the US dollar, thus making commodities more expensive for those countries using other currencies at home. 

                                At the MCX, nickel futures for December 2016 contract is trading at Rs 762.80 per kg, down by 0.08 per cent, after opening at Rs 768, against a previous close of Rs 763.40. It touched the intra-day low of Rs 762.

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