MUMBAI, December 23: Both the precious metals lost gained ground on the bullion market here today. Standard gold eased by Rs 20 at Rs 4,160 per 10 gm. Gold .22 carat fell by Rs 15 at Rs 3,850 per 10 gm. Prices of gold biscuit (116.50 gm.) dropped by Rs 200 at Rs 48,700 per piece after hardened by Rs 1100 on Monday.

Seasonal demand was petered out at higher level while slide in the dollar value against rupee prompted profit-taking. Traders reported thin supplies during the day and sentiment was firm at the close on bullish global advices. In the international market gold shot up to $292.50/293 an ounce.

Silver .999 fell by Rs 10 at Rs 8,390 per kg. Silver .916 reacted by same margin at Rs 8,290 per kg. Industrial buying was sluggish at higher level and fear of sale by customs department triggered profit-taking amidst stockists. Weak Delhi and global advices put pressure on local market, dealers said. In the overseas market the white metal moved down to $6.06/6.07 an ounce.

Castorseed, oil suffer

Groundnut oil eased further on the oil,oilseeds market here today. Castorseed and its oil also suffered a setback.

Groundnut oil slipped by Rs 2 at Rs 360 per 10 kg on demand resistance at higher level while weak upcountry advices prompted profit-taking. In Rajkot prices finished lower at Rs 535/540 per 15 kg following rise in the winter crop supplies, it was learnt.

Imported palm oil placed Rs 3 lower at Rs 285 per 10 kg exclusive of tax as sluggish demand at higher level attributed profit-taking. The smart rally in the world market had little impact on the market, dealers said.

Castor oil edged down by a rupee at Rs 281/293 per 10 kg as overseas demand was petered out. Castorseed ready finished Rs 5 lower at Rs 1247/1253 per quintal.

In the futures section castorseed March delivery reacted from Rs 1176 to Rs 1174.50 before closing at Rs 1175 on light bull unloading coupled with weak Ahmedabad advices.

In Ahmedabad March delivery finished Rs 3 lower at Rs 1154.50 per quintal. According to reports reaching here arrivals at Gujarat region rose to about 13000/14000 bags.

Sugar edges up

A steady-to-slightly better condition was noticed on the sugar market.On selective and modest buying support indigenous sugar price were edged up by Rs 5 a quintal. M-30 were placed at Rs 1480-1526 and S-30 at Rs 1471-1491 ex-godown. Ex-octroi checkpost, M-30 rose to Rs 1475-1485 and S-30 to Rs 1455-1465.

Imported sugar were fully steady. Brazilian ruled at Rs 1375, South African at Rs 1395 and French at Rs 1410.

In tenders, M-30 were indicated at Rs 1435-1440 and S-30 at Rs 1420-1430.

Grains steady

A steady trend prevailed in wheat and rice on the grains market.

Wheat milling ruled at Rs 755 and good quality at Rs 761 a quintal for Khopoli delivery. Among other wheat MP 147 and Sarbati were quoted at Rs 900-1100 and at Rs 1100-1500 respectively. Wheat Gujarat were traded at Rs 800-900. Ganganagar wheat were on offer at Rs 900-925. Maharashtra wheat found sellers at Rs 825-925. Inflow was placed at around 40 lorryloads.

Rice

Andhra Pradesh Kattar were in tight supply. The price was well-held at Rs 900-950. Masoori and cultured Kolams were placed at Rs 900-925 and at Rs 1050-1100 respectively. Permal average were traded at Rs 891-925 while superior met with support at Rs 1075-1100. Gujarat-17 rice were mentioned at Rs 1050-1300.

Bengal Deshi reacts

Barring a reaction in the price of Bengal Deshi, a steady trend prevailed on the cotton market. Mill demand was on the low ebb.

In Punjab zone, Bengal Deshi price, after moving up further by Rs 20 to 25 a maund with superior grade topping Rs 1400, reacted by Rs 20 at Rs 1335-1380 spot following increased offerings and the reduced demand. J-34 saw-ginned ruled steady. Rajasthan ruled at Rs 1785-1800, Bhatinda line at Rs 1820-1840 and Main Line at Rs 1850-1885. Cart-selection Bhatinda were quoted at Rs 1930-1950 and Muktasar at Rs 1960-1970. Arrivals totalled 23,000 bales, consisting of 5000 bales of Bengal Deshi and 18,000 bales of staple cottonSanker Botad ruled at Rs 19,000-19,300, Kadi at Rs 19,500-19,700 and Manavadar at Rs 19,500-20,500 a candy. MP cottons were also steady.

Yarn listless

A listless condition prevailed on the yarn market. Activity was thin.

Viscose filament yarns bright cones first quality Century Rayon/Indian Rayon 150dn ruled at Rs 223, 120dn at Rs 244, 100dn at Rs 264 and 75dn at Rs 267 a kg.

Nylon yarn 15/1/0dn JK at Rs 251 and 20/1/0dn Gujnil at Rs 240 were static.

Delhi

On reports that crops of turmeric, red chillies, zeera, methi and poppyseeds etc. suffered a damage because of untimely rains in the producing areas, consequently, their prices recorded a sharp spurt of Rs 200-400 a quintal. However, on profit-taking selling, poppyseed slided down by Rs 1,000 at Rs 13,000 a quintal. Saffron Irani crashed by Rs 2,000 at Rs 26,000 a kg due to weak demand at higher level.

Red chillies crop in Rajasthan, Andhra, Karnataka, Maharashtra etc. is likely to decline by 35-45 per cent. Likewise, zeera and dhania crops in Rajasthan was hit hard because of rains followed by hailstorms. Tamarind scaled a new high at Rs 4000 a quintal because of paucity of ready stock and arrival of new crop tamarind is likely to be delayed.

Thymol lower

Following downtrend advices from producing markets coupled with poor buying response by the exporters, thymol was marked lower by Rs 25 at Rs 425 per kg. Menthol bold and menthol oil eased by Rs 3-7 per kg whereas menthol flake firmed up by Rs 5 per kg. Residue wax flared up by Rs 500 at Rs 10,000 per tonne on renewed buying by rubber industries coupled with declined arrivals to market here. Titanium dioxide China and TTK slipped further by Re 1 at Rs 74 and Rs 82 per kg on profit-taking sales by the stockists.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.