Mumbai, July 1: Following noticeable improvement in the marketing environments Reliance Industries (RIL) has jacked up the price of POY and processed yarns.

The price of POY has ben raised by Rs 2 a kg. 235dn has been priced at Rs 59 and 126dn at Rs 69, (exclusive of excise). However, as the company has also withdrawn the usual quantity discount of Rs 3 to 4, the nett impact on the price would be Rs 5 to 6.

Besides, RIL has jacked up the price of grey 80dn rotoset yarn by Rs 9 at Rs 120, of 80dn weft grey by Rs 5 at Rs 105 and that of 150dn weft grey by Rs 6 at Rs 94. The RIL price, as of now are Re 1 to Rs 2 lower than the market price which was an unsual feature, averred trade sources.

Meanwhile, the market encountered profit-taking at higher levels in 80dn rotoset. As a result, the price of grey first quality 80dn rotoset yarn of medium-sized units which had moved up further from Rs 117-118 to Rs 120-122 retreated to Rs 116-117. Micro 80dn roto were placed at Rs 130-135. 80dn weft at Rs 104-105 were up by Rs 2. 80dn warp at Rs 118-119, 80/1000dn Surat goods at Rs 122-123, others at Rs 130-135 and 80/1400dn at Rs 135-140 as also the price of 150dn were steady.

Bullion down

Gold prices declined steeply by Rs.50 and 24-carat gold slumped below the Rs.4,500 mark to close at Rs.4480 on the bullion market today due to poor demand coupled with weak London advices.

Yesterday, 24-carat gold had closed at Rs.4530. This surpassed the previous lowest level of Rs.4485, quoted on February 25, 1994.

Silver also dropped sharply on poor industrial demand coupled with weak overseas advices.

22-Carat gold was nominally quoted notably lower at Rs.4145 against the last close of Rs.4190. 10-tola gold bar of .999 purity faced brisk selling and lost Rs.600 to settle at Rs.52,400 from Rs.53,000 previously.

Silver ready of .999 fineness dropped by Rs.50 and closed at Rs.6650 from Rs.6700, while raw silver of .916 also showed a similar fall and settled at Rs.6550 against the last close of Rs.6600. Tenderable silver followed suit and finished Rs.50 lower at Rs.6655 compared to Rs.6705 previously. Sugar firm

Sugar price ruled steady with a firm undercurrent in line with the trend in the tenders.

M-30 at Rs 1475-1485 and S-30 at Rs 1450-1470 a quintal ex-octroi checkpost were well-held at the yesterday's late evening closings as active buying support in tenders pushed up the tender quotation by Rs 5 to 7. S-30 fetched Rs 1425 in Karad line while Kolhapur ruled at Rs 1420-1423.Ex-godown, M-30 were placed at Rs 1490-1525 and S-30 at Rs 1472-1500.

Grains dull

Activity continued to be dull on the grains market despite the beginning of the month. Prices generally ruled unchanged.Green peas Rumba USA were on offer at Rs 1800 while Canadian found sellers at Rs 1371-1381. Tur Myanmar old and new were traded at Rs 925-950 and at Rs 975 respectively. Urad Myanmar old were traded at Rs 850 while new were placed at Rs 900.

Gram Australian were traded at Rs 1200. Kabuli gram A-2 Turkish at Rs 1900, B-2 Turkish at Rs 1475, Iranian at Rs 1375 and C-2 at Rs 1250-1275 were unchanged.

Among cereals, wheat MP 147 and Sarbati were quoted at Rs 600-800 and at Rs 700-1100 respectively. Maharashtra HD wheat ruled at Rs 650-725.Rice AP Masoori ruled at Rs 850-900 and Permal superior at Rs 1050-1100.

Cotton quiet

A quiet condition continued on the cotton market following slack mill demand.V-797 ruled at Rs 13,900-14,400, Morbi Wagad at 12,800 and Kalagin at Rs 12,200-12,300 a candy. Sanker were placed in the range of Rs 17,500-21,500.

Ind oils harden

Groundnut oil declined further on the oilseeds market here today on poor local buying. Lower price trend in the producing centres also dampened the sentiment.

However, the industrial oils, hardened on good industrial buying. In the futures market, castorseed September contract also rose on good support.In the edible section, groundnut oil fell further by Rs.2 to drop below Rs.350 mark and closed at Rs.348, against the previous close of Rs.350. Palm oil declined by Rs.4 and finished at Rs.259 on poor demand in the face of increased arrivals.

In the industrial section, castor oil commercial edged upto end at Rs.249 from Rs.248 on fresh soap manufacturers demand, while castorseed Madras firmed up by Rs.5 and closed at Rs.1099 compared to Rs.1094 the previous day on hectic demand. Linseed oil regained by Rs.7 and finished at Rs.285 from the last mark of Rs.278 on good paint industries demand. However, linseed bold, showed no change from the last close of Rs.1300 on stray support.

In the futures market, castorseed September contract opened higher at Rs.1130 and rose to Rs.1131.50 and finally settled at the opening level of Rs.1130, thus showing a gain of Rs.3.50 from the previous close of Rs.1126.50

Delhi

The Delhi grains and pulses market continued to reel under recessionary tendency on Tuesday.

Though support prices for the kharif crops such as paddy, coarse grains, pulses, etc. were raised by Rs 45-60 a quintal by the Centre, but due to tight money market conditions, market revealed an easy tendency on stockists offerings.

In the wake of dull demand as well as upcountry bulk buyers, gram Rajasthani, moong and arhar climbed down by Rs 40-75 a quintal and urad, masoor, moth etc. also showed a declining tendency. Rice permal was down by Rs 10 a quintal due to slack demand. White jowar, superior quality, tumbled down by Rs 50 at Rs 750 a quintal and maize and barley also ruled easy.

Gur declines

On firm Mumbai advices coupled with less allocation of 4.50 lakh bags of free sale sugar quota for Maharashtra, business in mill delivery sugar remained sluggish and nominal rates were quoted higher by Rs 25-30 a quintal.

Most of the millers did not open their rates for mill delivery sugar. New sugar quota of Chandpur, Amroha and Bijnore was quoted at Rs 1338, and Kichha at Rs 1340 a quintal. On stockists offerings, gur declined by Rs 25 at Rs 1025-1075 a quintal.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.