Groundnut oil moved up by Rs 5 at Rs 420 per 10 kg. Tight supplies, continued festival buying and news of rally in the producing center on account of lower than expected rainfall attributed to the upsurge. In Rajkot groundnut oil quoted Rs 20/25 higher at Rs 695/700 per 15 kg. Imported palm oil looked up by Rs 2 at Rs 245 per 10 kg on renewed festival buying. In the global market palm oil remained unchanged at $425 per tonne for nearby delivery and at $407.50/415 per tonne for long delivery it was learnt.

Castor oil rose by Rs 4 at Rs 457/469 per 10 kg on overseas support. Castorseed ready was up by Rs 20 at Rs 2,129/2,135 per quintal on fear of lower new crop.

In the futures section castorseed December delivery commenced higher at Rs 2,085 (Rs2,071) butlater on eased to Rs 2,067 per quintal on bull liquidation, floor sources said.

In Ahmedabad December delivery opened at Rs 2,080 but closed the session lower at Rs 2,060 per quintal.In the international castor oil future market here October and December delivery hardened by Rs 6 and Rs 7 at Rs 450 and Rs 385 per 10 kg respectively.

Silver moves up

Both the precious metals closed on a firm note on the bullion market here today. Market closed early today duel to Hindu festival but the undercurrent was bullish on account of tight supplies and modest rally in the global prices.

Silver .999 moved up by Rs 20 at Rs 8,025 per kg. Silver .916 was up by Rs 30 at Rs 7,900 per kg. Industrial demand however remained scattered but traders reported continued festival demand for silver and the volume of trading picked up to 250/300 kg during the day. Delhi was firm and in the global market the white metal looked up by a cent to $5.14 per ounce.

Standard gold however maintained at Rs 4,050 per 10 gm. so wasgold .22 carat at Rs 3,745. But prices of gold biscuit (116.50 gm.) hardened by Rs.100 at Rs 47,500 per peice. In the global market the yellow metal improved by 75 cents at $255 per ounce.

Sugar ends lower

A dull-to-slightly subdued trend was noticed on the sugar market following slack demand.

Ex-octroi checkpost, M-30 were static at Rs 1410-1425 while S-30 shed Rs 5 at Rs 1385-1395. Ex-godown, the price ruled at Rs 1435-1490 and at Rs 1410-1430 respectively.

In tenders, M-30 at Rs 1360-1375 and S-30 at Rs 1340-1350 in Kolhapur line were steady.

Tur spurts

A shrap rise in the quotation of tur provided main feature of trading on the grains market. Urad,too, netted fresh gains. Wheat and rice were steady.

Following emergence of buying support in the face of very restricted supply the stockists of tur turned tight pushing up the price by Rs 150 a quintal. Tur Myanmar spurted to Rs 2100. Urad Myanmar also remained in demand at improving prices. This gave the values fresh boost of Rs 25at Rs 1775. Australian gram also hardened by Rs 25 at Rs 1350-1375 on reserved selling. Moong Myanmar and Chinese were traded at Rs 1700 and at Rs 1725-1800 respectively.

Kabuli gram A-2 at Rs 3400-3450, B-2 ready at Rs 2900 and incoming at Rs 2700 met with limited buying support. C-2 average at Rs 1800-2000 and superior at Rs 2300-2500 were maintained. Natural kabuli fetched Rs 2600-2700.

Wheat milling indigenous ruled at Rs 765-770 and imported at Rs 625-635. Rice Gujarat-17 were on offer at Rs 1800-2200.

Yarn improves

A steady-to-slightly better condition prevailed on the yarn market. Activity was slightly better due to incoming holidays from Saturday to Tuesday.

Polyester yarn grey first quality of medium-sized units 80dn ruled better by Rs 2 a kg. Roto were placed at Rs 88-90, micro roto at Rs 95-96, weft at Rs 84-86 and warp at Rs 95-96.150dn held steady as weft and warp were placed at Rs 70-71 and at Rs 77-78 respectively, single roto at Rs 71-72 and double roto at Rs72-73.

Cotton steady

A quietly steady condition prevailed on the cotton market. V-797 were placed at Rs 13,700-13,900, Wagad at Rs 13,300-13,400 and Kalan-ginned at Rs 12,800-12,900 a candy spot. Meanwhile, arrivals of new crop in Punjab consisted of around 80 cartloads of Bengal Deshi and around 20 cartloads of J-34, it was learnt. The price for Deshi was placed at Rs 1310-1380 a maund. In the case of J-34 new, September ruled at Rs 1830 and October at Rs 1750.

There were reports of beneficial rains in Maharashtra and MP but the picture in Gujarat remained disturbing.

In futures, December contract rallied by 10 points at Rs 4675 on low level support. New York also netted gains of 0.73 to 0.94 cents. October rose to 50.23, December to 51.64, March to 52.65 and May to 53.48 cents.