Thursday, 23 March 2017

Nickel futures drop 0.55% on global cues : 23 March 2017



Nickel futures were trading lower during evening trade in the domestic market on Thursday as investors and speculators exited their positions in the industrial metal as the US dollar recovered from 7-week lows and markets looked to see if the US President Trump could push through a Healthcare Bill.

Markets focus is on whether Trump can gather enough support in a vote later in the day to pass a Bill to roll back Obamacare, a first major test of his legislative ability and whether he can keep his promises to business. At the MCX, nickel futures for March 2017 contract is trading at Rs 654.80 per kg, down by 0.55 per cent, after opening at Rs 656.80, against a previous close of Rs 658.40. It touched the intra-day low of Rs 653.60 

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