MUMBAI, July 7: Bullish trend forged further ahead in polyesters on the yarn market following active buying support.

Grey first quality of medium-sized units, 80dn roto at Rs 125-127 and weft at Rs 105-108 gained Rs 2. 80dn micro roto were placed at Rs 143-144. 80dn warp were quoted at Rs 120-121. 80/1000dn Surat goods at Rs 122-125, 241 machine at Rs 130-135, 80/1400dn inferior at Rs 135-140 and 241 machine at Rs 145-150 were well-held.

Meanwhile, Reliance Industries (RIL) had jacked up the price of 80dn micro roto grey by Rs 4 at Rs 142. RIL had also on Saturday hiked the price of 80dn roto by Rs 8 at Rs 128, of 80 weft by Rs 3 at Rs 108 and of 150dn dyed by Rs 2.

Inferior rice up

A steady-to-better trend prevailed on the grains market due to better buying support.

In inferior rice the price firmed up by Rs 20 to 25 a quintal following prospects of increased offtake due to the restricted supply through the PDS. Permal FCI were placed at Rs 850-861, AP Hansa at Rs 840-900 and AP Masoori at Rs 875-925. Superior Permal at Rs 1050-1100 and Gujarat-17 at Rs 1450-1600 were maintained. The supply of Gujarat-17 rice remained tight.

Among pulses, Rajma Chitra deshi at Rs 2000 and imported at Rs 1850-1900 were up by Rs 50. Red rajma imported were traded at Rs 1600-1650. Australian gram price shot up from Rs 1231 to Rs 1300 on active demand. Tur Myanmar old were placed at Rs 1000 and new at Rs 1050.

Cotton steady

A steady trend prevailed on the cotton market. Activity was restricted and centred round V-797.

V-797 were placed at Rs 14,000-14,400 a candy, Morbi Wagad at Rs 12,800 and Kalagin at Rs 12,200-12,300 a candy spot.

J-34 saw-ginned Mansa ruled at Rs 1825, Bhatinda Line at Rs 1835-1840 and Muktsar/Fazilka at Rs 1900-1950 a maund spot. F-414 were placed at Rs 2065-2085.

Sugar weak

Sugar price turned weak following slack demand.Losing Rs 10 a quintal M-30 ruled at Rs 1450-1470 and S-30 at Rs 1430-1450 ex-octroi checkpost. Ex-godown, the price ruled at Rs 1495-1532 and at Rs 1465-1480 respectively.

In tenders, also the price dropped down by Rs 10 as S-30 were indicated at Rs 1395-1405 and M-30 at Rs 1415-1425 in Kolhapur line.

Precious metals down

Both the precious metals declined in the bullion market here today.Silver .999 and raw silver declined sharply by Rs 55 each to Rs 6405 and Rs 6305 per kg respectively due to lack of buying support from local buyers and industrial users.

On the other hand the gold prices which were already declined below the five-year-low on last Saturday moved down further on a weak overseas advices. The standard mint gold and 22-carat eased by Rs 15 and Rs 10 to Rs 4335 and Rs 4010 per ten gm respectively. Prices of ten tola gold bar also went down by Rs 200 to Rs 50700 due to poor buying interest from jewellery industry and investors. Besides premium of Special Import Licence to import gold has fallen sharply from 10.10 per cent to 9.60 per cent further depressed the sentiment of the market, according to market sources.

In the global market, the yellow metal dipped 12-years lowest level at $318/319 per ounce. Silver on the other hand opened lower at $4.48 but recovered modestly before closing at $4.52/4.53 per ounce.

G'nut oil improves

Groundnut oil continued to rise on the oilseeds market today on increased local demand. Poor supply from Gujarat and better price trend at the producing centres also boosted the sentiment.

However, palm oil, declined on increased arrival. In the futures market, castorseed September turned weak on fresh selling pressure.

In the edible section, groundnut oil hardened further by Rs.2 and closed at Rs.358 from the last close of Rs.356, while, groundnut bold held steady at Rs.1870. Palm oil, however, declined by Rs.3 and finished at Rs.260 against Rs.263 on Saturday last.

In the futures section, castorseed September contract, started higher at Rs.1141 and improved further to Rs.1143. Later, it declined to close at Rs.1136.50, showing a fall of Rs.3.50.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.