Groundnut oil slid from Rs 432 to Rs 425 per 10 kg amidst sluggish demand and hectic supplies from southern India. Arrivals from Gujarat region however remained restricted. In Rajkot prices ruled steady at Rs 650/655 per 15 kg.

Imported palm oil was down by Rs 3 to Rs 335 per 10 kg exclusive of tax on fresh inflow at Mumbai port coupled with losses in the global market. In the overseas market palm oil dropped to $630 per tonne for nearby delivery.Castor oil looked up by a rupee at Rs 394/408 per 10 kg on stray buying by shippers. Castorseed ready gained Rs 5 at Rs 1789/1795 per quintal in sympathy.

In the futures section castorseed March delivery climbed from Rs 1462 to Rs 1476 before closing the session at Rs 1469 per quintal. Higher upcountry advices prompted fresh covering by bears, floor sources said.Maturing december delivery remained absent from trading today.

In Ahmedabad February delivery placed firm at Rs 1532 while April delivery was steady at Rs 1485 per quintal. In Gujarat castorseed ready rose to Rs 345 per 20 kg. Castor oil ruled quiet at Rs 380 per 10 kg. Fresh inflow of castorseed at Gujarat region were placed around 19000/20000 bags.

Bullion rules weak

Gold and silver prices ruled weak on the bullion market amidst sluggish demand followed by weak trend in the global prices. Standard gold fell by Rs 15 at Rs 4,260 per 10 gm. Gold .22 carat was down by same margin at Rs 3,940 per 10 gm. Prices of gold biscuit (116.50 gm.) crashed by Rs 300 to Rs 49,700 per piece. Seasonal demand was lower than expected while weak overseas advices prompted fresh offerings by stockists and local bankers. In the global market gold slid from $290 to $288.75 per ounce.

Silver .999 eased by Rs 45 to Rs 7,385 per kg. Silver .916 declined by Rs 65 to Rs 7,250 per kg in sympathy. Industrial demand wasdull while fresh arrivals of 400/500 kg of contraband silver coupled with bearish overseas advices triggered profit-taking. Delhi was weak and in the global market the white metal slipped from $4.97 to $4.89 per ounce.

Sugar hardens

Sugar market depicted hardening trend following improved activity.Ex-godown, the price firmed up by Rs 10 a quintal. M-30 were placed at Rs 1490-1540 and S-30 at Rs 1465-1488. Ex-octroi checkpost, M-30 were up by Rs 10 at Rs 1480-1490 while S-30 were edged up by Rs 5 at Rs 1455-1470.In tenders, the price looked up by Rs 10 as M-30 were indicated at Rs 1435-1445 and S-30 at Rs 1420-1430 in Kolhapur line.

Cotton divergent

A mixed trend prevailed on the cotton market. Punjab cotton yielded fresh ground while other cottons presented a better stance. Selling pressure continued in Punjab zone on limited buying support and increased arrivals, causing a fresh drop of Rs 5 to 10 a maund in values. Bengal deshi roller-ginned Punjab were placed at Rs 1525-1550, Haryanaat Rs 1525-1530 and Rajasthan at Rs 1550-1565 spot. J-34 saw-ginned good average Punjab and Haryana were on offer at Rs 1690-1790 and at Rs 1700-1750 respectively while Rajasthan were traded at Rs 1695-1725. Cart selected goods fetched Rs 1800-1945, Rs 1790-1810 and Rs 1740-1785 respectively. J-34 roller-ginned were on offer in the range of Rs 1600-1670. Arrivals consisted of 3500 bales of Bengal deshi and 12,000 bales of J-34.

V-797 and MP cotton prices gained Rs 100 a candy on improved buying inquiries. V-797 were placed at Rs 16,200-16,500 and MP Y-1 at Rs 17,600-17,900. Sanker were well-held in the range of Rs 18,000-20,300.In futures, February contract ended at Rs 4920, up 5 points while April was closed at Rs 5007, an overnight gain of 12 points.

Grains unchanged

A steady condition was noticed in wheat and rice on the grains market.Wheat milling ruled at Rs 790-795 a quintal. Wheat north Gujarat Tukadi were traded at Rs 815-825 and Lokvan at Rs 825-850. 496 were placed at Rs 850-875. MP 147and Sarbati were on offer at Rs 850-900 and at Rs 900-1300 respectively.

Rice Perimal Punjab found sellers at Rs 850-950. Superior Perimal fetched Rs 1200-1300. AP cultured kolams and Kattar found sellers at Rs 1300-1500 and at Rs 1000-1050 respectively.

Yarn lacklustre

A quiet tendency was in evidence in viscose and nylons on the yarn market due to lacklustre demand. Viscose filament yarn bright cones first quality Century Rayon 150dn were on offer at Rs 217, 120dn at Rs 239, 100dn at Rs 248 and 75dn at Rs 263 a kg. 120dn dull cones were on offer at Rs 247.Nylon yarn 15/1/0dn Shreelon were quoted at Rs 240 a kg. 20/1/0dn Shreelon ruled at Rs 230, Nirlon at Rs 224 and Gujnil at Rs 220. 30/10/dn Gujnil were placed at Rs 290. 111/24/0dn Gujnil were mentioned at Rs 157 and JCT at Rs 163.