Groundnut oil reacted by Rs 2 at Rs 505 per 10 kg amidst demand resistance. Higher prices attracted profit-taking, it was said. Imported palm oil closed Rs 3 lower at Rs 352 per 10 kg exclusive of tax on continued supplies.

However, in the kerb deal late in the evening, prices recovered to Rs 354/355 per 10 kg on higher overseas advices. In the global market palm oil shot up from $665 to $675 per tonne for ready delivery. Forward deliveries were available at $660/665 per tonne.

Castor oil placed Rs 3 higher at Rs 428/440 per 10 kg on steady buying support. Castorseed ready moved up by Rs 14 at Rs 1952/1958 on shortage of ready stock at the fag end of the season.

In the futures section castorseed September delivery lifted from Rs 1722 to Rs 1728.50 per quintal on steady bullloading, but volume of trading was slow as major players were waiting for December delivery to start, floor sources said. Forward Market Commission has granted permission for December delivery and the trading will commence on Thursday. In the Gujarat region castorseed ready delivery quoted higher at Rs 392 per 20 kg. Castor oil was placed at Rs 425 per 10 kg. it was learnt.

Bullion bounces back

Gold and silver prices bounced back trimming recent losses on the bullion market here today. Standard gold rose by Rs 20 at Rs 4,215 per 10 gm. Gold .22 carat moved up by same margin at Rs 3,900 per 10 gm. Prices of gold biscuit (116.50 gm.) hardened by Rs 450 at Rs 49,600 per piece. Festival demand improved at the reduced level as eased supplies and firm overseas advices arrested fresh offerings, dealers said. Southern advices were encouraging. In the global market gold recovered from $285.40 to $288.35 per ounce.

Silver .999 gained Rs 65 at Rs 8,220 per kg. In the ready section silver .916 shot up by Rs95 at Rs 8,110 per kg. Fresh industrial and seasonal demand pushed silver upward while inflow remained negligible. Delhi advices were firm. In the global market silver rose from $5.38 to $5.45 per ounce.

Sugar dull

A dull condition was in evidence on the sugar market as the business passing was on the low side.

M-30 were placed at Rs 1505-1535 and S-30 at Rs 1478-1500 a quintal ex-godown. Ex-octroi checkpost, M-30 found sellers at Rs 1480-1490 and S-30 at Rs 1460-1470.

In tenders, M-30 were indicated at Rs 1440-1445 and S-30 at Rs 1425-1430 in Kolhapur line.

Dubai sugar was static at Rs 1430 but Pakistan shed Rs 5 at Rs 1405 plus tax.

Grains unchanged

A steady trend prevailed on the grains market. Activity was restricted.Wheat milling were quoted at Rs 695-700. Saurashtra Lokvan ruled at Rs 775-850, Sihori at Rs 800-850 and SW at Rs 900-1000. North Gujarat wheat were mentioned at Rs 751-825. MP 147 and Sarbati were traded at Rs 775-850 and at Rs 900-1500 respectively.

Rice SLOwere placed at Rs 1000-1100 and Gujarat-17 at Rs 1375-1500.Among pulses, tur Myanmar 1998 ruled at Rs 1925 and 1997 at Rs 1825-1851.

Urad Myanmar were on offer at Rs 1251-1261. Moong Myanmar were placed at Rs 1800-1900. Australian gram were traded at Rs 1375. Kabuli gram A-2 Mexican at Rs 3000, Turkish at Rs 2900, Iran at Rs 2800 and Australian at Rs 2700 were dull.

Cotton steady

A steady condition prevailed on the cotton market. Activity was restricted.V-797 ruled at Rs 15,700-15,900, Morbi wagad at Rs 15,300-15,400 and kala-ginned at Rs 14,500-14,600 a candy. Sanker superior was done at Rs 22,800. The price range ruled at Rs 18,500-22,800.

In Punjab zone, J-34 saw-ginned good average ruled at Rs 1915-1975, cart-selected at Rs 1990-2100 and Bengal Deshi at Rs 1580-1610 a maund spot. Bengal Deshi new were indicated at Rs 1275 for October delivery and at Rs 1250 for November delivery. New Bijapur LRA were placed at Rs 20,500-21,000.

Yarn weak

Weak tendency continued in polyesters onthe yarn market.With the buyers still remaining cautious the polyester yarn was depressed.

Grey first quality of medium-sized units 80dn rotoset were on offer at Rs 86-87, micro rotoset at Rs 105-106, weft at Rs 85-86 and warp at Rs 95-96 a kg. 80/1000dn at Rs 110-112 and 80/1400dn at Rs 115-120 were static.

In the case of 150dn, weft ruled at Rs 67-68, warp at Rs 78-79, single rotoset at Rs 72-73 and double rotoset at Rs 74-75.