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Monday, January 25, 1999

Stock Update Forex Update

Gold may be headed towards 19-year low
The beginning of 1999 has been bad for the yellow metal. A weak dollar and host of other factors which should have affected gold positively did very little for it.

Calls seen below 9%; rupee may stay firm
Call rates eased for the previous week's highs and settled just below the bank rate. Primary dealers and the banks collecting Resurgent India Bonds (RIBs) have availed of the Reserve Bank's liquidity support.

Ahmedabad bears hammer down castor futures to drive bulls out
Castor futures traded at the Ahmedabad seeds merchant Association (ASMA) crashed on bull unloadings and bears took advantage to hammer down the prices further.


Inspirations furnishing fabrics

Central Electronics Limited

Patel Roadways Limited


  Edible oil markets still in bear grip; crisis likely to worsen
  Asian rubber producers put off ministerial meet
  Vietnam coffee offers slow down
  Poor quality pushes down cardamom price
  Japanese aluminium metal buying seen up after April
  Aluminium spot premiums red hot on shortages in Asia
  Mumbai grains market witnesses slack demand; leather prices
  Backwardation sparks flurry of physical Brent sales into Asia
  Asian oil product swaps steady
  Japanese naphtha prices weak on mellowed buying
  Wax, ammonia prices slide
  Availability of alternative crudes put pressure on Gulf oil



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