Bullion Continues Upward Move, Gnut Oil Hardens

Groundnut oil recovered from the low level and firm up on better Rajkot advices coupled with improved demand against modest arrivals. Other industrial oils ruled easy-to-steady at the wholesale oils and oilseeds market yesterday. Imported palmolein improved further on reduced arrivals.

Groundnut oil firmed up by Re 1 at Rs 333 per 10 kg on renewed consumer demand coupled with reduced arrivals. Arrivals were put at around 80-90 tonnes.

In other oils, rapeseed oil refined and soya oil refined eased by Re 1 and Rs 5 to Rs 276 and Rs 285 per 10 kg respectively . Castor oil commercial and BSS varieties looked up by Re 1 each to Rs 268 and Rs 280 a kg. Imported palmolein gained a further Rs 2 at Rs 270 per 10 kg.

In futures section, December contract opened higher by 50 paise at Rs 1158 and firmed up to Rs 1158.50 a quintal. It declined to Rs 1154.50 before closing at Rs 1155.50 a quintal

In oilseeds, castorseeds Madras and Maharashtra qualities improved by Rs 4 each to Rs 1190 and Rs 1184 a quintal respectively. Groundnuts - Karad bold and Saurashtra bold firmed up by Rs 10 each to Rs 1850 and Rs 1870 a quintal respectively. Nigerseeds Madras quality declined by Rs 15 at Rs 1385 a quintal.

Non-ferrous metals: An easy-to-steady trend was noticed in the local non-ferrous market yesterday. The undertone of the market was hesitant.

In scraps section, copper heavy scraps eased by 50 paise to Rs 120.50, while brass utensils softened by 25 paise at Rs 97 a kg respectively on reduced industrial demand.

Meanwhile, copper utensils, brass sheetcuttings and aluminium utensils ruled overall steady and were nominally quoted at Rs 111, Rs 102.50 and Rs 61 a kg respectively

In virgin section, nickel cathodes declined by Rs 2 at Rs 330 Aluminium ingots firmed up further by 50 paise at Rs 80.50 a kg Zinc slabs eased by 25 paise at Rs 85 a kg Meanwhile, all the other metals ruled overall steady and were nominally quoted as under : copper wirebars Rs 129, lead ingots Rs 41 and tin slabs Rs 302 a kg. respectively

Bullion: Yellow metals shot up while silver prices improved further in the local bullion market yesterday. The undertone of the market remained firm.

In yellow metals, standard gold and 22 carat gold flared up by Rs 120 and Rs 110 to Rs 4610 and Rs 4265 per 10 gms respectively Gold biscuit prices shot up further by Rs 1,400 at Rs 54,100 a piece.

In white metals, both silver .999 and .916 improved further by Rs 55 each to Rs 7280 and Rs 7180 a kg

Sugar: The wholesale market remained officially closed yesterday in protest against an increase of market cess announced by the NM MC.