G'Nut Oil Subdued, Silver Rallies, Bullion Dull

Groundnut oil ruled easy on subdued demand coupled with modest arrivals, whereas other industrial oils ruled easy to steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday. Imported palmolein ruled overall steady on subdued demand against modest arrivals.

Groundnut oil eased by Re at Rs 360 per 10 kg.on subdued demand and modest arrivals from the producing centres. Arrivals were put at around 90 tonne a day. In other oils, mowra oil and coconut oil white firmed up by Rs 5 each to Rs 235 and Rs 555 per 10 kg. respectively on improved industrial demand coupled with modest arrivals. Cottonseed oil washed and refined qualities firmed up by Re 1 each to Rs 284 and Rs 286 per 10 kg. respectively on better industrial demand and limited arrivals. In futures section, December contract opened Rs 6.50 higher at Rs 1166.50 and remained at the same level. It declined to Rs 1163 before closing at Rs 1164.50 a quintal. All the oilseeds ruled overall steady on narrow movements.

Sugar : An easy-to-subdued trend was witnessed at the wholesale sugar market at Turbhe, Navi Mumbai yesterday. Both the grades ruled easy. The undertone of the market was not firm. Sugar S-30 grade eased to Rs 1495/1530 as against the previous level of Rs 1505/1530 a quintal on dull consumer offtake while M-30 softened to Rs 1520/1554 as against of the previous level of Rs 1520/1558 a quintal on reduced offtake.

Non-ferrous Metals:A mixed trend was witnessed in the local non-ferrous market yesterday. The demand remained mixed as against of the modest arrivals. The undertone of the market was hesitant.

Nickel cathodes and tin slabs eased by Re 1 each at Rs 324 and Rs 283 per kg. each on sluggish demand and improved arrivals from the upcountry centres. The other metals were nominally quoted as under : aluminium ingots Rs 78, zinc slabs Rs 86.50 and lead ingots Rs 42, a kg. respectively on narrow movements.Copper heavy scraps firmed up by Re 1 at Rs 119.50 a kg.on better industrial demand..

Bullion :The trend was mixed at the local bullion market yesterday. Silver prices ruled firm while gold prices stayed overall subdued. The undertone was hesistant. Silver.999 and .916 firmed up by Rs 25 each to Rs 6890 and Rs 6790 a kg. respectively on firm overseas advices and improved industrial demand.

Both - standard and 22 carat gold ruled overall steady and were nominally quoted at Rs 4510 and Rs 4,170 per 10 grammes respectively on subdued demand. London advices showed a steady trend. Gold biscuits prices also ruled steady at Rs 52,800 per 10 tolas on subdued movements.