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Our Bureau/Agencies
Mumbai, Dec 21: Polyester yarn rallied slightly on restricted supply, coupled with somewhat better buying support.
The polyester texturised yarn price looked up by Rs 2 a kg from the rock bottom levels. Grey first quality of medium-sized units 80dn rotoset were up at Rs 81-82, micro rotoset at Rs 85-86, weft at Rs 76 and warp at Rs 84-85 a kg. 80/1000dn and 80/1400dn were traded at Rs 115-120 and at Rs 125-130 respectively.
In the case of 150dn, weft were up at Rs 63-64 and warp at Rs 70-72. Single and double rotoset were under pressure due to increased production and benefited less from the improved prices. The former were on offer at Rs 65-66 and the latter at Rs 67-68.
Explaining the current trend trade sources say the cut in the production by the texturisers due to uneconomic realisations and the excise authorities strictly collecting the excise at Rs 3.50 per kg by reinforcing its collection mechanism has caused some tightness in supply. Besides, grey fabrics prices have also looked up by 10 paisea metre, giving slight boost to the demand.
Milling wheat improves
Milling wheat price improved further on the grains market. Other wheat and rice held steady.On better buying support, milling wheat price moved up by Rs 5 a quintal at Rs 790-795. Wheat north Gujarat Tukadi at Rs 815-825, Lokvan at Rs 825-850 and 496 at Rs 850-875 were maintained. Saurashtra Lokvan at Rs 850-950 and SW at Rs 900-1000 also were unchanged. MP 147 were traded at Rs 850-900 and Sarbati in the range of Rs 900-1300.
Rice Gujarat-17 were transacted at Rs 1600-1800. Andhra Pradesh Kattar and cultured kolams were on offer at Rs 1000-1050 and at Rs 1300-1500 respectively. Perimal Punjab were mentioned at Rs 850-950. Superior Perimal fetched Rs 1200-1300.Among pulses, green peas USA were placed at Rs 1550.
Punjab cotton softens
Punjab zone materials price softened up on the cotton market. Elsewehre, a steady trend prevailed.
Meanwhile, the Maharashtra federation has hiked the prices.
On increased offeringsPunjab zone cotton price reacted by Rs 5 to 10 a maund. Bengal deshi roller-ginned ruled in the range of Rs 1525-1575 spot. J-34 saw-ginned good average were placed at Rs 1690-1800 and cart selected at Rs 1740-1950. Roller-ginned J-34 were quoted at Rs 1600-1680. Arrivals consisted of 3000 bales of deshi and 9000 bales of J-34.
Sanker average at Rs 18,000-19,000 and superior at Rs 19,500-20,300 a candy were steady.
Meanwhile, the Maharashtra federation has hiked the price of its MECH-1 by Rs 300 of DHY/NHH by Rs 200 and of LRA by Rs 100 a candy. The Nagpur premium was also raised from Rs 200 to Rs 300. The difference between super and FAQ price has been reduced from Rs 200 to Rs 100. The lifting period has been shortened by a month, it was learnt.
In futures, February contract commenced higher by 15 ponits at Rs 4915 and thereafter, ruled unchanged. April contract finished steady at Rs 4995. Activity was negligible.
Sugar steady
A steady-to-slightly better trend prevailed on the sugarmarket.M-30 ruled at Rs 1470-1535 and S-30 at Rs 1455-1480 a quintal ex-godown. Ex-octroi checkpost, the former were traded at Rs 1470-1485 and the latter at Rs 1450-1465.
In tenders, M-30 were indicated at Rs 1425-1435 and S-30 at Rs 1410-1420 in Kolhapur line.A ship carrying 4300 tonnes of Pakistani sugar has arrived. Sellers were quoting Rs 1390 plus sales tax which market sources said were on the high side.
Bullion divergent
The bullion market continued to show mixed trend here today when prices of silver improved further moderately and gold eased.
Ready silver (.999 fineness), raw silver (.916 fineness) and tenderable silver rose further by Rs 5 each due to increased industrial buying and closed at Rs 7430, Rs 7315 and Rs 7435 from the previous close of Rs 7425, Rs 7310 and Rs 7430 respectively.
However, standard gold eased by Rs 5 to close at Rs 4275 from last close of Rs 4280 following poor demand. 22-carat gold was nominally quoted weak at Rs 3955 from the previous level of Rs 3960,but ten-tola gold bar (.999 purity) held steady at Rs 50,000 on stray support.
G'nut oil easy
Groundnut oil turned easy on the oilseeds market here today due to poor demand in the face of good arrivals. Elsewhere, castor oil and castorseeds improved further on good industiral and export offtake.
In the edible section, groundnut oil fell by Rs 3 to end at Rs 432 from the previous close of Rs 435. Imported palm oil declined further by Rs 2 to Rs 388 from the last close of Rs 340 on increased supply.
In the non-edible section, castor oil edged up further to Rs 393, while castorseed moved up to Rs 1790 from the last close of Rs 1786.In the futures section, castorseed March contract opened better at Rs 1458 and rallied further to Rs 1467 on heavy demand from shippers and closed at Rs 1462, showing a good gain of Rs 8 over the last close of Rs 1454.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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