Among edible oils, groundnut oil flared up due to acute shortage of stocks in the absence of fresh supplies as against good local offtake. Prices moved up on impending fears of a damage to crop due to heavy rains in the state. Imported palm oil also firmed up on fresh local buying interest.

In the industrial sector, castor oil nosedived in the absence of enquiries from exporters and soap manufacturers. Castorseeds slumped owing to adequate stocks position. Linseed oil improved on inquiries from the paint industry. Linseeds ready ruled quiet.

Groundnut oil moved up to Rs 595 from Rs 575. Imported palm oil firmed up to Rs 386 from Rs 383. Groundnuts ready was not quoted. Linseed oil improved to Rs 455 from Rs 450. Linseeds ready was steady at Rs 1700. Castor oil commercial dropped to Rs 475 from Rs 495. Castorseeds ready Madras slumped to Rs 2184 from Rs 2280 previously.

In thefutures market, castorseeds December opened lower at Rs 1834 on heavy selling pressure. Later, prices slumped further on sustained bull unloading in the absence of export enquiries and closed at the day's low of Rs 1815 from the last close of Rs 1845.

Sugar steady:

A quietly steady trend prevailed on the sugar market as activity was thin due to heavy downpour affecting the transports.

M-30 were placed at Rs 1430-1495 amd S-30 at Rs 1405-1425 a quintal ex-godown. Ex-octroi checkpost, M-30 were quoted at Rs 1415-1425 and S-30 at Rs 1390-1400.

In tenders, M-30 were indicated at Rs 1370-1375 and S-30 at Rs 1350-1360 in Kolhapur line.

Grains unchanged:

In thin deals prices hovered around the previous day's levels on the grains market.

Wheat milling were placed at Rs 685-690 a quintal. Saurashtra Lokvan wheat were traded at Rs 775-825. SW ruled at Rs 875-1125. North Gujarat wheat were placed at Rs 735-825. MP 147 and Sarbati ruled at Rs 775-850 and at Rs 900-1300 respectively.

RiceGujarat-17 continued to present a firm stance on tight supply and were sought after in the range of Rs 1600-1700. SLO were quoted at Rs 1125-1150. Permal FCI were placed at Rs 850-925 and superior at Rs 1250-1350. Andhra Pradesh Kattar rice were on offer at Rs 1100-1150.

Among pulses, green peas USA ruled at Rs 1650 and Canadian at Rs 1051-1061. White peas Canadian found sellers at Rs 1011-1021 on ready basis and at Rs 875 for October shipments. Australian gram were placed at Rs 1350. Kabuli gram A-2 ruled at Rs 3000-3200, B-2 at Rs 2725-2750 and C-2 at Rs 2200-2300.

Cotton ends better:

Trading continued to be a tame affair on the cotton market. Price presented a steady-to-slightly better stance on reports of continued rains in most of the producing centres.

V-797 at Rs 15,200-15,600, Morbi wagad at Rs 14,800-15,100 and kala ginned at Rs 14,300-14,400 as also Sanker in the range of Rs 18,500-22,000 a candy spot were maintained.

In MP new crop Y-1 were mentioned at Rs 17,500, LRA at Rs18,000-18,300 and H-4 at Rs 19,000-19,500 on November delivery basis.

In Punjab, ready Bengal deshi were placed at Rs 1490-1550, J-34 saw-ginned good average at Rs 1700-1780 and cart-selected at Rs 1800-1925 a maund. In forward, Bengal deshi September ruled at Rs 1440-1480 and October at Rs 1310-1340. J-34 saw-ginned good average October were placed at Rs 1720-1760.

Yarn:

Trading on the yarn market came to a virtual halt following heavy flooding in Bhiwandi and Surat.

Gold declines

Prices of ten-tola gold bar of .999 purity declined further by Rs 300 to Rs 49,600 from the last close of Rs 49900 on increased supplies as against poor local demand at the bullion market here today. The downtrend was also aided by bearish overseas advices.

Standard gold opened lower at Rs 4200 on stockists offerings but later pruned the losses on support at lower levels. It ended at Rs 4220 from Rs 4230. 22 carat gold was nominally quoted lower at Rs 3905 from 3910 previously.

Silver ready andtenderable opened easier at Rs 7480 and Rs 7485 on fresh supplies but recovered the losses on good industrial demand. Raw silver, however, ended with sharp losses due to sustained supplies. It declined to Rs 7350 from Rs 7400. Silver ready and tenderable silver closed steady at Rs 7500 and Rs 7505 respectively.

In the global market gold prices initially dropped to $286.85 but later on recovered and placed at $289.35 per ounce. Silver opened lower at $4.91 but recovered before concluding at $4.95 per ounce, it was learnt.