Bullion Ends On Firm Note; Groundnut Oil, Sugar Ease

An easy-to-steady trend was noticed in groundnut oil, while most other edible oils ruled subdued at the wholesale oils and oilseeds market here yesterday.

September'98 contract remained untraded yesterday, while the December'98 contract opened lower and eased further towards closing.

Groundnut oil softened by Rs 2 at Rs 593 per 10 kg. Castor oil Commercial and BSS qualities dropped further by Rs 12 each to Rs 462 and Rs 474 per 10 kg, respectively. Copra oil white and soya oil refined looked up by Rs 10 and Rs 3 to Rs 490 and Rs 391 per 10 kg, respectively.

Ricebran oil looked up by Rs 2 to Rs 235 per 10 kg on improved industrial offtake against limited availability of ready stock, while karanji oil eased by Rs 2 to Rs 230 per 10 kg on dull industrial demand.

December contract opened Rs 8.50 lower at Rs 1,810 a quintal and firmed up to Rs 1,818 a quintal. It declined and closed to Rs 1789 a quintal. Castorseeds Madras and Maharashtra qualities declined by Rs 57 each to Rs 2,122 and Rs 2,116 a quintal, respectively, on dull industrial demand.

Sugar: Easy-to-calm conditions were witnessed at the wholesale sugar market yesterday.

S-30 eased to Rs 1,403/1,430 a quintal from the previous level of Rs 1,403/1,435 on subdued consumer demand. Similarly, M-30 dipped to Rs 1,430/1,490 a quintal against its previous level of Rs 1,430/1,495.

Non-ferrous metals: Easy-to-steady conditions were noticed in the local market yesterday. The undertone remained weak.

In the scraps section, copper heavy scraps declined by 50 paise while copper utensils and brass utensils eased by 25 paise each to Rs 104.00, Rs 92.75 and Rs 85.75 a kg, respectively, on weak overseas advices. Brass sheet cuttings and aluminium utensils ruled overall steady and were nominally quoted at Rs 88.00 and Rs 63.50 a kg, respectively.

In virgin metals, copper wirebar softened by 50 paise at Rs 117.50 a kg. The other metals were nominally quoted as under : aluminium ingots Rs 86.00, zinc slabs Rs 79.50, lead ingots Rs 45.50, tin slabs Rs 378 and nickel cathodes Rs 248 a kg, respectively.

Bullion: A firm-to-upward trend was noticed in both the precious metals at the local market yesterday.

Silver .999 and .916 improved by Rs 25 and Rs 35 to Rs 7,550 and Rs 7,450 a kg, respectively. Overall demand remained better.

Standard gold and 22 carat gold firmed up further by Rs 15 each to Rs 4,270 and Rs 3,950 per 10 grams, respectively. Gold biscuit tags advanced further by Rs 200 at Rs 50,300 per bar.