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Tuesday, September 21, 1999

Moong tumbles on slack demand; bullion divergent 

National News Service  
Delhi, Sept 20: The Delhi grains and pulses market displayed a mixed tendency on Monday. Wheat dara, at the local market edged up by Rs 3 at Rs 703-713 a quintal on support from flour millers. Daily arrival of wheat from the neighbouring states plummeted to 4,000-5,000 bags. Roller flour mill atta and maida slipped by Rs 5 at Rs 700 and Rs 770 per bag, respectively on selling pressure while suji recorded a sharp rise of Rs 40 at Rs 845 per 90 bag on strong demand from eastern Indian and Maharashtra buyers.

Among pulses, on inflow of 8-10 containers of moong from China last week coupled with slack demand from the stockists, its prices tumbled down by Rs 50-75 at Rs 1650-1950 a quintal and demand in other pulses remained dull. Gram Rajasthani slipped by Rs 10 a quintal as daily arrival at Lawrence Road mounted to 60 lorries.

Mumbai: Rajmash chitra price yielded ground on the grains market. Elsewhere, a quietly steady condition prevailed.

Increased pressure of deshi new crop pushed down the price ofchitra rajmash by Rs 200 a quintal at Rs 2000. Red rajmash lost Rs 50 as unpolished found sellers at Rs 1700 and polished at Rs 1800. Kabligram A-2 were placed at Rs 3500, B-2 ready at Rs 2900 and incoming at Rs 2700. C-2 inferior were placed at Rs 1800-2000 and superior at Rs 2300-2500. Natural kabligram were on offer at Rs 2500-2600.

Tur Myanmar at Rs 2175-2200 and urad Myanmar at Rs 1950 were well-held at the earlier high levels on reserved selling. Moong Myanmar and Chinese were unchanged at Rs 1700 and at Rs 1750-1800, respectively.

Edible oils fall

Despite lower projection of mustard and groundnut output in the Global Oil Meet in Mumbai, groundnut, sesame and soyabean mill delivery oils, in edible section, fell sharply by Rs 50-100 a quintal as palmolein in Malaysia dipped from $430 to $420 a tonne.

On selling pressure of Mahuwa oil from Raipur and UP, castor oil from Gujarat, rice bran oil from Punjab, Haryana and UP and linseed oil from Kanpur, their prices tumbled down by Rs 50-100 aquintal. Similarly, palmfatty acid white slided down by Rs 100 at Rs 2100 a quintal.

Sugar steady

Despite procurement of 15-20,000 bags of mill delivery sugar by UP, Punjab, Haryana and the local parties, mill delivery sugar prices held steady on selling pressure from millers.

Mawana sugar was traded at Rs 1540, Modi at Rs 1443, Douralla at Rs 1440, Simbhauli on advance payment at Rs 1426, tax-paid Jagadhari, Khatauli and Dhampur at Rs 1570, Rs 1525 and Rs 1490 a quintal, respectively.Mumbai: An easy trend was noticed on the sugar market.

The price dipped by Rs 3 to 5 a quintal on slack demnad. M-30 were placed at Rs 1430-1490 and S-30 at Rs 1408-1425 ex-godown. Ex-octroi checkpost, M-30 found sellers at Rs 1410-1425 and S-30 at Rs 1385-1395.

In tenders, M-30 were indicated at Rs 1360-1365 and S-30 at Rs 1340-1350 in Kolhapur line.

Mace moves up

Mace moved up from Rs 490-640 to Rs 600-650 a kg on firm Singapore advices and cardamom small improved by Rs 5 a kg on reports of demandfrom the importing countries in the south.

Silver coins firm

Divergent conditions were seen at the Delhi bullion market on Monday.The Bank of England would be unloading its second instalment of 25 tonne gold on September 21, 1999, consequently, buyers withdrew from the market. Gold in Hong Kong dipped by $one at $255 an ounce, as a result, gold bicuits and standard mint gold dipped by Rs 5 at Rs 4020 and Rs 4030 per 10 gram, respectively while gold sovereign held steady at Rs 3600-3625 per 8 gram.

Silver in Hong Kong showed signs of improvement at 511 cents an ounce coupled with negligible inflow of imported silver, spot silver .999 fineness improved by Rs 10 at Rs 7810 a kg and silver weekly delivery edged up by Rs 10 at Rs 7820 per kg in tandem. Silver coins ruled firm at Rs 10,700-10,800 per 100 pieces due to poor inflow.

Mentha oil easy

Chemicals were quiet and easy in the local market as offtake declined and fresh inflow increased while most of the commodities were unchanged,menthol products moved lower. Mentha oil, flake and bold were easy by Rs 2-10 per kg and DMO drifted lower by Rs 5 per kg.

Titanium dioxide TTK, however, managed to improve by Re one per kg on a bit increase in demand.

Zinc slab up

Zinc slab and lead ingot desi soft and hard were marked up by 25-50 paise per kg on local demand and decreased fresh arrivals. Copper wire scrap, utensil scrap and cadmium rod also moved up by 50 paise to Re one per kg. On the other hand, due to sluggish sales, copper rod black and antymony dipped by 50 paise to Re one per kg whereas other metals were unchanged.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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