Bullion: Sentiment stayed mixed in the local bullion market during last week. Both the precious metals ruled in opposite direction. Silver ruled firm on firm overseas market, while gold ruled weak on weak.
Silver.999 which opened firm at Rs 7,590 per kg on Monday and advanced further to close at Rs 7,635 on Saturday, the weekend on strong international advices, better out-of-state demand and normal selling pressure locally.
Industrial offtake also remained firm. Silver.916 opened firm at Rs 7,470 a kg and gained Rs 40 to end at Rs 7,510 a kg during the week.
More From This Section
Standard gold opened with a firm note at Rs 4,660 per 10 gram on Monday but weakened to close at Rs 4,510 on Saturday on weak international advices coupled with dull consumer demand.
The cacuse of fluctuations in yellow metal prices is said to be there price movements overseas. Gold 22 carat ruled dull and declined by Rs 140 to close at Rs 4,170 per 10 gramms during the week.
Gold biscuits (116.50 gm piece) prices ruled weak too and lost Rs 1,700 at Rs 53,000 per piece on dull movements during the week.
Oils and Oilseeds: The local oils and oilseeds market displayed a firm tendency during the last week owing to improved offtake coupled with restricted arrivals from the upcountry centres. The demand for most of the edible oil varities remained better to firm during the week under review.
Groundnut oil commenced with a dull note at Rs 380 per 10 kg on Monday but it improved to close at Rs 415 per 10 kg on Saturday, the weekend on better consumer offtake against reduced arrivals. The arrivals from AP, Karnataka and MP remained limited at about 5-7 trucks per day.
Cottonseed oil washed and copra oil white improved by Rs 10 each to Rs 305 and Rs 310 per 10 kg respectively on better industrial demand coupled with firm overseas advices.
Castor oil commercial and FSG qualities looked up by Re 1 each to Rs 236 and Rs 248 per 10 kg respectively on modest industrial demand coupled with subdued availability of ready stock. Imported RBD palmolein and imported soya oil refined improved by Rs 3 each to Rs 232 and Rs 252 per 10 kg respectively on better enquires.
In oilseeds, kardiseeds, nigerseeds and castorseeds improved by Rs 5, Rs 20 and Rs 5 to Rs 1,155, Rs 1,700 and Rs 1,030 a quintal respectively on firm industrial demand against limited inflows of ready stock from the upcountry centres.
Non-ferrous metals: A mixed trend was witnessed in the local non-ferrous metals mart during the last week.
Virgin metals ruled easy to steady while scraps metals ruled overall steady.The undertone of the market hinted weakness. In virgins, nickel cathodes declined by Rs 5 at Rs 460 a kg on sluggish demand and easy arrivals from upcountry centres.
Tin slabs firmed up by Rs 2 at Rs 367 a kg on short supply of ready stocks against better demand while zinc slabs eased by 50 paise at Rs 80.00 a kg on dull enquires.
Meanwhile, all the other meals ruled overall steady and were nominally quoted as under: copper wirebar Rs 134.00, aluminium ingots Rs 96.00 and lead ingots Rs 39.50 a kg respectively on narrow movemens during the week.
In scraps, copper utensils, brass utensils and brass utensils firmed up by 50 paise each to Rs 107.50, Rs 95.00 and Rs 100.00 a kg respectively on firm overseas advices coupled with modest industrial demand.
Aluminium utensils eased by 50 paise at Rs 75.00 a kg on dull advice. Meanwhile, copper heavy scraps held overall steady at Rs 120 a kg on narrow movements during the week.
Sugar: A moderately firm trend was noticed in the indigenous sugar prices at the Turbhe wholesale sugar market at Navi Mumbai during the last week. The demand was almost mixed against easy arrivals.
Both the grades ruled fairly firm. Small grade sugar commenced with a better note at Rs 1,440/1,465 a quintal on Monday and moderately firmed up to close at Rs 1,440/1,478 on Saturday at the weekend on better demand against modest availability of ready stock.
Medium grade commenced with a firm note at Rs 1,490/1,545 a quintal on Monday and advanced further to end at Rs 1,490/1,550 on Saturday, on modest local as well upcountry offtake.