G'Nut Oil Stages Recovery, Precious Metals Shimmer

Groundnut oil recovered at reduced level while most other edible oils ruled easy-to-subdued at the wholesale oils and oilseeds market here yesterday.

Groundnut oil improved by Rs 5 at Rs 570 per 10 kg on improved consumer demand.

Castor oil Commercial and BSS qualities continued to advance by Rs 2 each to Rs 547 and Rs 559 per 10 kg respectively. Sesame oil and mowra oil shot up by Rs 15 and Rs 7 to Rs 360 and Rs 425 per 10 kg respectively. Imported palmolein firmed up by Rs 3 at Rs 375 per 10 kg on restricted supplies against improved demand.

December contract opened higher by Rs 28 at Rs 1,956 a quintal and ruled at the same level. It declined and closed to Rs 1,931 a quintal on speculative movements.

Castorseeds Madras and Maharashtra qualities advanced further by Rs 10 each to Rs 2,530 and Rs 2,524 a quintal respectively.

Sugar: Easy-to-steady conditions continued in prices at the wholesale sugar market here yesterday. Both grades ruled subdued.

S-30 ruled easy at Rs 1,400/1,450 a quintal from the previous level of Rs 1,415/1,440.

Similarly, M-30 ruled overall steady and was nominally quoted at Rs 1,435/1,505 a quintal on narrow movement.

Meanwhile, sugar for the check-post deliveries were quoted lower at Rs 1,380/1,390 a quintal for S-30 and Rs 1407/1430 a quintal for M-30.

Non-ferrous metals: Steady-to-easy conditions were noticed in the local non-ferrous metals market yesterday.

The undertone remained weak.

Lead ingots firmed up marginally by 25 paise at Rs 45.25 a kg on limited arrivals. Meanwhile, other metals were nominally quoted as under : copper wirebar Rs 119.50, aluminium ingots Rs 86.50, zinc slabs Rs 78.00, tin slabs Rs 373 and nickel cathodes Rs 248 a kg respectively.

In scraps section, metals were nominally quoted as under : copper heavy scraps Rs 106.50, copper utensils Rs 93.50, brass utensils Rs 86.50, brass sheetcuttings Rs 88.75 and aluminium utensils Rs 63.50 a kg respectively.

Bullion: An upward trend was noticed in both the precious metals at the local bullion market yesterday.

Both precious metals ruled firm. Silver .999 and .916 improved by Rs 145 each to Rs 7,470 and Rs 7,350 a kg respectively, on firm overseas advices which restricted continued offerings at a much improved level.

Standard gold and 22 carat gold prices increased by Rs 55 and Rs 50 to Rs 4,160 and Rs 3,850 per 10 grams on firm overseas advices.

Gold biscuit prices also advanced by Rs 700 at Rs 48,900 per piece on better consumer offtake.