Sugar Grades Have A Dull Day, Bullion Stays Mixed

Groundnut oil continued to soar yesterday on paucity of ready stock due to tight supply position. Demand, however, was at low.

Most edible oils ruled easy-to-subdued. Imported palmolein stayed firm. In the futures market, September'98 contract remained untraded, while December'98 opened higher and advanced further.

Groundnut oil advanced by Rs 15 at Rs 565 per 10 kg. Arrivals have remained quite inadequate for meeting the festive demand. Arrivals were placed around 50/60 tonne a day.

Castor oil commercial and BSS qualities advanced by Rs 5 each to Rs 442 and Rs 454 per 10 kg respectively. Linseed oil and soya oil refined improved by Rs 5 and Rs 4 to Rs 440 and Rs 390 per 10 kg respectively.

 

Karanji oil firmed up by Rs 3 to Rs 200 per 10 kg on improved industrial demand. Imported palmolein firmed up further by Re 1 at Rs 364 per 10 kg.

In futures, December contract opened Rs 14 higher at Rs 1,810 a quintal. It declined to Rs 1796 before closing to Rs 1805 a quintal on speculative movements. In oilseeds, castorseeds Madras and Maharashtra qualities improved by Rs 24 each to Rs 2026 and Rs 2020 a quintal respectively on firm industrial demand backed by limited stock.

Sugar: A weak trend was noticed at the sugar market. Both grades ruled dull. S-30 grade declined further to Rs 1445/1490 a quintal against its previous level of Rs 1455/1495. M-30 weakened to Rs 1470/1555 (Rs 1480/1555) a quintal.

Sugar for check-post deliveries were quoted lower at Rs 1435/1445 a quintal for S-30 and Rs 1455/1490 a quintal for M-30.

Non-ferrous metals: An easy-to-steady trend was noticed. Virgin metals ruled easy while scraps ruled steady. In virgin metals, zinc slabs eased by 50 paise at Rs 78.50 a kg on reduced industrial demand.

Other metals were nominally quoted as under: copper wirebar Rs 121.50, aluminium ingots Rs 85.50, lead ingots Rs 45.00, tin slabs Rs 382 and nickel cathodes Rs 255 a kg respectively.

In scraps,metals were nominally quoted as under : copper heavy scraps Rs 107.50, copper utensils Rs 93.50, brass utensils Rs 82.00, brass sheetcuttings Rs 86.00 and aluminium utensils Rs 63.00 a kg respectively.

Bullion: A mixed trend was noticed. Silver ruled almost steady, while gold stayed firm.

Both standard gold and 22 carat gold firmed up by Rs 35 and Rs 30 to Rs 4245 and Rs 3925 per 10 grams respectively on firm overseas advice s.

Gold bisucit prices advanced by Rs 350 at Rs 49,750 per piece of gold bar.

Silver .999 ruled steady and was nominally quoted at Rs 7900 a kg. Silver .916 firmed up by Rs 10 at Rs 7800 a kg.