Ready silver (.999 fineness), raw silver (.916 fineness) and tenderable silver rallied by Rs 60 each to end at Rs 7400, Rs 7285 and Rs 7405 as against the previous close of Rs 7340, Rs 7225 and Rs 7345 respectively on higher demand from industries engaged in the manufacture of silver jewellery and articles.

Standard gold edged up further by Rs 10 to end at Rs 4300 from Rs 4290, while ten-tola gold bar (.999 purity) firmed up by Rs 50 to Rs 50,400 from the last close of Rs 50,350. 22-carat gold was nominally quoted better at Rs 3980 from yesterday's close of Rs 3970.

Sugar softens

Sugar market softened up on demand losing momentum at high level.

Ex-godown, M-30 were on offer at Rs 1470-1535 as against Rs 1480-1533 while S-30 ruled steady at Rs 1460-1485 a quintal. Ex-octroi checkpost, S-30 price had declined by Rs 8 but rallied by Rs 3 on emergence ofstockists demand at low level in line with the trend in ex-mill deals. S-30 finished at Rs 1445-1455. M-30 at Rs 1470-1485 were static.

In tenders, M-30 price was indicated up by Rs 5 at Rs 1425-1435 while S-30 was steady at Rs 1405-1415.

Yarn declines

Volume of business continued to be at a low ebb and prices remaining shaky on the yarn market.

With offtake of fabrics continuing to be very sluggish the capacity utilisation in Bhiwandi powerlooms shrunk further from 50 per cent to 60 per cent pushing the yarn market further in a tight spot. Polyester yarn price were placed a rupee a kg lower in some of the items on keen offerings. Grey first quality of medium-sized units 80dn rotoset were on offer at Rs 79 and micro rotoset at Rs 84 a kg. Weft and warp found sellers at Rs 75-76 and at Rs 82-83 respectively.

In the case of 150dn, weft were placed at Rs 61 and warp at Rs 70. single and double roto were quoted at Rs 65 and at Rs 67 respectively.

Cotton unchanged

A quietly steadycondition continued on the cotton market generally on very restricted activity.

Arrivals in Punjab zone comprised of 3000 bales of Bengal deshi and 10,000 bales of J-34. Bengal deshi roller-ginned Punjab were placed at Rs 1500-1540, Haryana at Rs 1515-1520 and Rajasthan at Rs 1545-1560 a maund spot. J-34 saw-ginned good average Punjab were placed at Rs 1680-1780, Haryana at Rs 1705-1755 and Rajasthan at Rs 1690-1715. Respective quotations for J-34 cart selected goods were Rs 1800-1945, Rs 1785-1810 and Rs 1725-1775. J-34 roller-ginned ruled in the range of Rs 1600-1670.

Sanker average and superior continued to be traded at Rs 18,000-19,000 and at Rs 19,500-20,300 a candy respectively. V-797 superior firmed up by Rs 100 at Rs 16,400. Average were steady at Rs 16,000.

Meanwhile, the Maharashtra federation is understood to have sold about 92,000 bales of old and current season goods with a lifting period of upto five months.

In futures, quotations looked up marginally. February contract resumed higher by5 points at Rs 4885 and ruled at the same level throughout the session. April contract opned with an overnight gain of 18 points at Rs 4960 and ended at the same level after rising to Rs 4962.

G'nut oil weak

Groundnut oil turned moderately weak on the oilseeds market here today due to lack of local demand. Elsewhere, castor oil, castorseed and castorseed March contract declined on reduced offtake.

In the edible section, groundnut oil eased to Rs 428 from yesterday's close of Rs 429, while imported palm oil held steady at Rs 341.

In the non-edible section, castor oil moved down by Rs 2 to Rs 391 from the previous close of Rs 393 and castorseed dropped to Rs 1781 from Rs 1790. However, linseed oil at Rs 460 and linseed bold at Rs 1700 remained unchanged.

In the futures market, castorseed March contract started weak at Rs 1450 and declined further on poor export demand and closed at Rs 1449, showing a fall of Rs 5 over the previous close of Rs 1454.

Milling wheat reacts

Milling wheatreacted on the grains market. Other items ruled more or less steady.

On lack of adequate buying support at high level milling wheat price surrendered Rs 10 a quintal and fell back to Rs 800-801. Other wheat and rice ruled unchanged. Wheat north Gujarat Tukadi were placed at Rs 825-850, Sonkalyan at Rs 815-825 and 496 at Rs 850-875. Saurashtra Lokvan and SW were traded at Rs 850-900 and at Rs 875-1000 respectively. Ganganagar wheat found sellers at Rs 865-875. MP 147 ruled at Rs 850-900.

Rice Gujarat-17 were placed at Rs 1600-1750 and Perimal Punjab at Rs 850-1000.

Among pulses, green peas USA were on offer at Rs 1600 and Canadian at Rs 921. White peas Canadian ready were quoted at Rs 941 and January shipments at Rs 901.

Black pepper up Black pepper and copra prices firmed up on good local demand on the spices market here today.

Black pepper prices rallied by Rs.100 to close at Rs.10,900/12,200 per quintal, while copra prices both edible and copra Rajapur rose sharply on heavy demand amidstrestricted supply. Copra edible was quoted sharply higher by Rs.250 to Rs.4100 per quintal and copra Rajapur gained by Rs.50 to close at Rs.4750 per quintal.

Meanwhile, there was further rise in upcountry quality copra Alleppey of Rs.20 at Rs.3580 per quintal on good support.