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Wednesday, September 9, 1998

Restricted supply fuels rajmash; silver weak 

National News Service  
NEW DELHI, Sept 8: In a mixed market conditions, prices at the Delhi grains and pulses market moved in a narrow range on Tuesday.

Arrival of wheat from UP and Haryana mandies improved to 10-12,000 bags, consequently, wheat dara slipped by Rs 5 at Rs 595-605 a quintal.

Arrival of non-basmati rice from Kurukshetra, Kaithal etc. mandies of Haryana climbed upto about 15,000 bags, but, on strong demand from exporters as well as Eastern India buyers, rice permal prices held steady.

Arrival of new maize from UP was reported about 3-4 lorries, but because of moisture, therefore, demand from industrial consumers remained poor. Moong prices held steady due to restricted supply while demand in small masoor and urad remained thin.

Gram Rajasthani dipped by Rs 15 at Rs 1265 a quintal as daily arrivals climbed upto 65-70 lorries. New Rajmash chitra of Maharashtra flared up by Rs 100 at Rs 3300 a quintal amidst tight supply position. However, poor quality new Rajmash were offered at Rs 2900 aquintal.

Groundnut oil moves up

Following raids on the premises of oil traders on Monday, arrivals were hit hard, consequently, soyabean and palmolein refined firmed up by Rs 10 at Rs 660-680 a tin.

Sunflower refined oil was reported out of stock. Sunflower oil of a particular mill was quoted at Rs 760 a tin.

Groundnut oil refined moved up by Rs 35 at Rs 1075 a tin. Palmolein in Malaysia dipped to $ 745 from $ 760 a tonne.

Gur remains subdued

Following raids on vanaspati and edible oil traders, demand in sugar from bulk buyers remained sluggish.

On increased inflow of imported sugar coupled with hike in September quota, traders demand was already poor.

As a result, mill delivery sugar Simbhauli and Mawana plummeted to Rs 1362 and Rs 1420 from Rs 1380 and Rs 1425 a quintal, respectively. Dauralla was quoted at Rs 1362, Bagpat at Rs 1332 and Ramala at Rs 1327 a quintal.

Imported sugar Alipur-Delhi delivery was traded at Rs 1455 a quintal. Gur prices remained subdued.

Cardamomcrashes Cardamom brown, on the local market crashed by Rs 200 a quintal as new crop cardamom is expected shortly.

Kalaunji tumbled down by Rs 300 a quintal as business of pickle manufacturers came to a standstill on detection of adulteration in mustard oil. On inflow of new dry pomegranteseed from Shimla, they were traded at Rs 55 a kg.

Among dry fruits, almond California and its kernel ruled firm because of firm dollar coupled with delay in import.

Gold steady

In a limited activity, spot silver, on the local bullion market suffered a mild loss while gold looks steady on Tuesday.

Though New York silver future ruled firm at 505 cents an ounce, yet due to weak upcountry demand coupled with selling pressure, spot silver .999 fineness slipped by Rs 20 at Rs 7580 a kg. and silver weekly delivery, on scattered support, held steady at Rs 7580 a kg.

Arrival of imported silver on Monrday was reported about 5000 kgs.

Demand in silver coins at Rs 10,900-11,100 remained thin.

Gold on the overseasmarkets held steady at $ 287.50 an ounce, consequently, gold biscuit and standard gold maintained their previous close of Rs 4245 and Rs 4255 per 10 gram, respectively and gold sovereign remained unchanged at Rs 3500-3525 per 8 gram.

B. Twill goes up

Followng advices from Calcutta where raw jute prices firmed up by Rs 50 at Rs 920 per quintal and as a result, B. Twill and hessians registered a significant rise of Rs 100-200 at Rs 20,500-21,300 and Rs 26,500-27,200 per tonne there, the trading brightened in local jute goods market with mostly products rising sharply.

B. Twill (2 & 2-1/4 lbs) and A. Twill shot up by Rs 25 per 100 bags and hessians also firmed up by Rs 5-10 per 91.4 metres.

Downtrend persists in Mentha oil Sodium hydro sulphite Kalai and Demosha edged up by Re. one per kg. on the expectation of Rs 4-5 per kg. sales prices hike by the manufacturers.

Mentha oil, flake and bold declined again at Rs 2-5 at Rs 285 Rs 385 and Rs 425 per kg. due to good stock position by the sales weredown.

Copper easy

Continuing the uptrend, tin ingot moved up by Rs 4 at Rs 380 per kg. as according to traders, the stock of the metal is restricted to few big traders and they were selling it on higher rates.

The prices will decline only when the import improves, traders said. They presume that nearly 30 tonnes tin ingot may arrive in next two days and further arrivals are expected next week.

Zinc slab lacked in stock, rises further by 25 paise per kg. Copper utensils, mixed, scrap and wire scrap eased by 25-50 paise per kg.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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