Groundnut Oil Up

In futures, castor seeds Sept contract opened lower and ruled steady at the same level towards closing, while Dec contract also opened lower but looked up towards closing.

Groundnut oil looked up further by Rs 3 at Rs 433 per 10 kg on improved demand on account of the ensuing festival season coupled with restricted arrivals from the main producing centres. Arrivals were limited at about 80 truck-loads. In other oils, mowra and sesame lost Rs 5 per 10 kg each to Rs 275 and Rs 315 respectively on reduced offtake. Whereas copra oil white and neem oil gained Rs 5 per 10 kg each to Rs 460 and Rs 170 respectively on better industrial offtake.

Imported palmolein eased by Rs 2 at Rs 286 per 10 kg on subdued offtake. Meanwhile, other oils like linseed, kardi, cottonseed, soyabean and refined was overall steady on narrow movements. In futures, castor seed Sept contract opened Rs 2 lower at Rs 1,096 a quintal and ruled at the same level throughout the session. December contract opened 0.50 paise lower at Rs 1,143 and moved up to Rs 1,145. It declined to Rs 1,139.50 before closing at Rs 1,144. In oilseeds, castorseeds Madras and Maharashtra qualities firmed up by Rs 5 per quintal to Rs 1,080 and Rs 1,074 respectively on better demand at reduced level.

An easy to downward trend was noticed at the wholesale sugar market. Demand was low and arrivals brisk. Sugar S-30 grade declined from the previous level of Rs 1,360/1388 to Rs 1,358/1,375 per quintal, while M-30 grade eased from Rs 1,390/1,428 to Rs 1,385/1,425 on dull demand. Sugar prices for check-post deliveries were also quoted low at Rs 1,328/1,350 a quintal for small and Rs 1,350/1,395 for medium grades.

A divergent trend was witnessed in the local bullion market. White metals ruled slightly firm while yellow metals ruled easy. In white metals, silver.999 looked up by Rs 10 at Rs 7310 per kg on better industrial demand coupled with restricted arrivals. Silver .916 also firmed up by Rs 5 at Rs 7,210.

dvices also indicated firm trend.

In yellow metals, standard gold ruled overll steady at Rs 5,175 per 10 grams on subdued demand while 22 carat strengthened by Rs 5 at Rs 4,765 per 10 grams on reduced demand. Gold biscuits prices ruled steady at Rs 60,500 per piece of 10 tolas on narrow movements.

A steady to easy trend was noticed in the local non-ferrous market. Nickel cathodes eased on reduced industrial demand at higher level, while all the metals in both the sections, i.e. scraps and virgin metals ruled overall steady on narrow movements and restricted trade activities.

In virgin section, nickel cathodes declined by Rs 4 at Rs 395 on selling pressure at higher level coupled with improved arrivals. Meanwhile, all the metals ruled overall steady. Copper wire bars were quoted at Rs 123, aluminium ingots at Rs 74.50, zinc slabs at Rs 64, lead ingots at Rs 49 and tin slabs at Rs 360.

In scraps section, all the metals ruled steady on narrow movements. Copper heavy scraps quoted at Rs 118, copper utensils Rs 104.50, brass utensils Rs 87.50, brass sheetcuttings Rs 93 and aluminium utensils at Rs 58.50 per kg respectively.