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Nickel futures edge down on weak demand

Nickel futures edged down on MCX as speculators offloaded their holdings amid weak demand from alloy-makers at the spot market. Besides, a weak trend in select base metals overseas also weighed on nickel futures.

The contract for May delivery was trading at Rs 930.10, down by 0.43% or Rs 4.00 from its previous closing of Rs 934.10. The open interest of the contract stood at 8104 lots.

The contract for June delivery was trading at Rs 933.80, down by 0.41% or Rs 3.80 from its previous closing of Rs 937.60. The open interest of the contract stood at 157 lots on MCX.

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