The demand for polyester yarn remained very sluggish due to setting in of slack season in fabrics. Besides, power situation in Bhiwandi also continued to cause concern affecting the powerloom operations and thereby hitting the yarn offtake. Liquidity position also remained tight. This has resulted into the prices of 80dn losing Rs 2 to 3 and 150dn Rs 3 to 4 a kg. Grey first quality of medium-sized units 80dn rotoset were down to Rs 84-85, micro rotoset to Rs 95-96, weft to Rs 78 and warp to Rs 89-90.

In the case of 150dn, weft dipped to Rs 66-67, warp to Rs 77-78, single roto to Rs 71-72 and double roto to Rs 72-73.

Poor demand as also reduction in the special additional customs duty from 8 per cent to four per cent has spurred RIL to slash the price of POY by Rs 2 a kg effective from today. Thus, the new price for126dn has been fixed at Rs 58 and for 235dn at Rs 49 a kg (exclusive of excise). The price of PSF has also been prunned by Rs 2 at Rs 46 but given effect retrospectively from 1st June. RIL had hiked the price by Rs 3 a kg in the post-budget period.

Pulses firm up

A steady-to-firm trend was in evidence on the grains market.

Undertone in imported pulses remained firm due to weak rupee and port strike. Tur Myanmar price firmed up by Rs 50 a quintal. 1998 were in demand at Rs 1900-1950 and 1997 at Rs 1800-1850. Moong Myanamar shot up by Rs 125 at Rs 1900-2025. White peas Canadian also looked up from Rs 1025 to Rs 1070-1075. Rajma chitra deshi at Rs 2800 and imported at Rs 2700 also gained Rs 50. Red rajma imported were well-held at Rs 2000.

Green peas USA at Rs 1675-1700, Canadian at Rs 1221-1225 and urad at Rs 1211 were steady. Kabuli gram A-2 Mexican at Rs 3000, Iranian at Rs 2500-2800, B-2 at Rs 2300-2400 and C-2 at Rs 1550 were unchanged. Wheat milling were placed at Rs 641-645.

Sugarimproves

Sugar market continued to present an improved stance on sustained buying support.

Indigenous and imported sugar were up by Rs 5 a quintal. M-30 were placed at Rs 1460-1465 and S-30 at Rs 1445-1450 ex-octroi checkpost. Ex-godown, the price ruled at Rs 1470-1505 and at Rs 1460-1480 respectively.

Pakistani sugar medium ruled at Rs 1425 and superiror at Rs 1435.

In tenders, a steady trend prevailed as M-30 were indicated at Rs 1420-1425 and S-30 at Rs 1405-1410 in Kolhapur line.

Gold rallies Gold prices rallied on the bullion market here today in line with fresh gains in the global market. Silver also closed firmer on higher overseas advices.

Standard gold opened sharply higher at Rs 4205 and later closed at Rs 4200, showing a fresh gain of Rs 40 over the last close of Rs 4160. The rise in global prices was due to the strengthening of Japanese yen against the US dollar, traders said.

22-carat gold was quoted higher at Rs 3885 from the last close of Rs 3850 and ten-tola gold bar of .999purity rallied by Rs 500 to end at Rs 49,300 from Rs 48,800.

Ready silver of .999 fineness rose further by Rs 45 to close at Rs 7760 from yesterday's close of Rs 7715. Raw silver of .916 fineness at Rs 7610 and tenderable silver at Rs 7765 also closed higher than the last close of Rs 7590 and Rs 7720.

G'nut oil reacts

The persistent steep rise in groundnut oil prices was checked today when the prices reacted moderately on fresh arrivals from producing centres. On the other hand, palm oil, linseed oil and castorseed September contract rose further on poor supply amidst good demand.

In the edible section, groundnut oil eased to end at Rs 481 from the last close of Rs 482. Groundnut bold held steady at Rs 2040. However, imported palm oil rose further by Rs 5 to close at Rs 410 from Rs 405.

In the non-edible section, linseed oil rose by Rs 5 and finished at Rs 455 as against yesterday's level of Rs 450 on heavy industrial demand. Linseed bold rallied by Rs 50 to close at Rs 1500 from Rs 1450.Castor oil improved to Rs 311 from Rs 310 on good soap manufacturers' offtake and castorseed Madras hardened to Rs 1397 from Rs 1392 on increased exporters' buying.

In the futures market, castorseed September contract opened firm at Rs 1419 and rallied to Rs 1421, before closing at Rs 1419.50, showing a gain of Rs 5.50 over the last close of Rs 1414.

Cotton up

Cotton market displayed firm trend on reserved selling.

A reaction of Rs 100 a candy in the quotations of short and medium staple items of Gujarat cotton turned short-lived on buying inquiries and the loses were fully recouped. V-797 rose to Rs 15,600-16,200, Morbi wagad at Rs 15,900 and kalaginned at Rs 15,300-15,400 spot. Sanker were quoted in the range of Rs 18,000-22,500.

Punjab zone Bengal Deshi were up by Rs 5 to 10 at Rs 1625-1675 a maund. J-34 saw-ginned ruled steady.