Groundnut oil declined sharply by Rs 7 to end at Rs 418 from the last close of Rs 425. Imported palm oil showed a fall of Rs 5 at Rs 260 over the last close of Rs 265.

In non-edibles, castor oil commercial rose by Rs 4 to close at Rs 412 from the previous level of Rs 408 and castorseed Madras moved up to Rs 1910 from Rs 1890. However, linseed oil held steady at Rs 355.

In futures, castorseed December contract held steady at Rs 1880, while September contract was not traded. In castor oil international contract, prices of October delivery fell by Rs 6 to Rs 426 and December delivery eased to Rs 364 due to weak demand from overseasmarkets.

Sugar steady

A steady condition was noticed on the sugar market. Activity was restricted.

M-30 were placed at Rs 1450-1500 and S-30 at Rs 1425-1455 a quintal ex-godown. Ex-octroi checkpost, the price ruled at Rs 1427-1445 and at Rs 1408-1415 respectively.

In tenders, M-30 were indicated at Rs 1375-1385 and S-30 at Rs 1360-1370 in Kolhapur line.

Yarn lacklustre

Prices hovered around the last week end levels on the yarn market. Activity was restricted.

In polyester yarn, activity has improved some what following resumption of the operations by the texturisers in the wake of resolution of the excise tangle. However, with grey fabrics price ruling uneconomical to the extent of 50 paise a metre, the demand remained hampered. Grey first quality of medium-sized units 80dn rotoset were placed at Rs 88-89, micro roto at Rs 94-95, weft at Rs 84 and warp at Rs 92-94 a kg. 80/1000dn and 80/1400dn were indicated at Rs 110-112 and at Rs 120-122 respectively.

In the case of 150dn, weftruled at Rs 69-70, warp at Rs 78-80, single roto at Rs 71-72 and double roto at Rs 73-74.

Gujarat cotton firms up

A fresh firmness in short and medium staple items of Gujarat provided main feature of trading on the cotton market.

Continued dry spell in Gujarat affecting the crop has induced fresh boost to the rising trend as the sellers turned further reserved while mills increased their purchases. Gaining over Rs 700 a candy V-797 rose to Rs 13,800-14,000 spot. Wagad and kalan-ginned were indicated at Rs 13,300 and Rs 12,700 respectively. Sanker ruled steady in the range of Rs 16,500-21,000.

Pulses improve

A steady-to-better condition continued on the grains market on tight supply in pulses and higher producing centre advices in wheat and rice.

Wheat milling deshi were placed at Rs 755-765 a quintal. Imported milling wheat were traded at Rs 625-635 as the quality was said to be inferior. Among other wheat, north Gujarat Sonaklyan ruled at Rs 811-821, Tukadi at Rs 825-850 and 496 atRs 850-875.

Rice FCI were reselling at Rs 900-1300. MP Masoori were traded at Rs 1100-1250.

Among pulses, green peas USA Rumba/Heart ruled at Rs 1300 and Canadian at Rs 875-950. Moong Myanmar were placed at Rs 1475-1550 and Chinese at Rs 1600-1650.

Bullion divergent

A mixed pattern of trading was registered on the bullion market here today as gold reacted on weak overseas advices and silver rose further on good industrial demand.

Gold price was quoted weak at $257.15/257.65 per ounce at the London opening as against the last close of $258.20/258.60 per ounce. Gold opening trade was suspended in Hong Kong due to a severe storm there, dealers said.

However, silver prices continued to rise due to increased buying by industries to make souvenirs for the forthcoming festivals, they added.

In the local market, standard gold opened weak at Rs 4110 and declined further to end at Rs 4100, showing a fresh fall of Rs 20 over the weekend close of Rs 4120. Ten-tola gold bar (.999 purity) followed suitand fell to Rs 48,100 from the last close of Rs 48,200. 22-carat gold was nominally quoted lower at Rs 3790 from the previous close of Rs 3810.

Ready silver (.999 fineness), though opened on a weak note at Rs 8110, later picked up strength and recovered to close at Rs 8150, showing a smart rise of Rs 25 over the last close of Rs 8125. Tenderable silver also displayed a similar rise at Rs 8155 from Rs 8130. Raw silver (.916 fineness) on the other hand, fell by Rs 10 to Rs 7990 from Rs 8000.