Groundnut oil firmed up by Re 1 to Rs 345 per 10 kg on better demand coupled with modest arrivals from the producing centres at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai, yesterday. Arrivals were put at around 90/95 tonne a day. Other industrial oils ruled easy-to-steady.
Imported palmolein ruled firm on limited arrivals. In future section, castorseeds December contract opened higher and ruled steady towards closing, while March'98 contract opened higher and ruled steady through out the session.
In other oils, linseed oil and sesame oil declined by Rs 5 and Rs 2 to Rs 275 and Rs 298 per 10 kg respectively on reduced industrial demand coupled with better inflows. Copra oil white and ricebran oil lost Rs 15 and Rs 6 at Rs 545 and Rs 162 per 10 kg respectively.
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In futures section, December contract opened Re 1 up at Rs 1,162 a quintal and ruled at the same level. It declined to Rs 1,161.50 before closing at Rs 1,162 a quintal on speculative movements. In oilseeds, castorseeds Madras and Maharashtra qualities ruled easy at Rs 1,195 and Rs 1,189 per quintal respectively on subdued industrial offtake coupled with limited arrivals.
Sugar: An easy-to-subdued trend was noticed at the wholesale sugar market yesterday. Both the grades of sugar ruld subdued to weak. Sugar S-30 grade ruled at Rs 1,505/1,521 against the previous level of Rs 1,510/1,516.25 a quintal on subdued consumer demand coupled with normal arrivals. Sugar M-30 eased to Rs 1,524/1,562. Meanwhile, sugar for check post deliveries were quoted low at Rs 1,492/1,500 a quintal for S-30 grade and Rs 1,510/1,520 for M-30 grade.
Non-ferrous Metals: A firm-to-steady trend was noticed in the local non-ferrous market yesterday. In virgin section, zinc slabs declined by Rs 4 to Rs 76 a kg.
In scraps section, copper heavy scraps and copper utensils improved by Re 1 each to Rs 115.50 and Rs 108 a kg respectively. Brass utensils and brass sheetcuttings eased by Re 1 each to Rs 92 and Rs 98 a kg respectively on reduced industrial demand.
Bullion: A weak trend continued in the local bullion market yesterday. Both the precious metals ruled easy on weak overseas advices. The undertone of the market was hesitant.
In white metals, silver .999 and .916 declined by Rs 50 and Rs 40 to Rs 6,630 and Rs 6,540 a kg respectively on weak overseas advices and dull consumer buying.
In yellow metals, both standard gold and 22-carat gold lost Rs 65 each to Rs 4,145 and Rs 3,835 per 10 gramms respectively on dull overseas advices coupled with reduced buying interests. The arrivals remained modest. Gold biscuit prices also lost Rs 900 at Rs 48,500 per gold bar of 10-tolas.