In futures, castorseeds June contract opened sharply lower at Rs 1448 and declined further to close at Rs 1441 as against Rs 1454 yesterday, showing a net loss of Rs 13 in the process.

In the edible section, imported palm oil fell down to Rs 304 from the yeterday's close of Rs 305. Groundnut oil held steady at Rs 420 on scattered dealings.

In the industrial sector, castor oil and castor bold Madras also remain unchanged at Rs 318 and 1430 due to lack of soap industries' offtake. Linseed oil and bold ruled full steady at Rs 450 and Rs 1800 on poor enquiries from paint industry.

Sugar firms up

Activity in the wholesale sugar market came virtually to a standstill due to the budget. Price presented a firm stance.

M-30 were up at Rs 1430-1495 from Rs 1420-1490 andS-30 at Rs 1416-1455, up by Rs 5 a quintal ex-godown.

Ex-octroi checkpost, M-30 held steady at Rs 1420-1430 while S-30 were edged up by Rs 5 at Rs 1400-1415.

The imported sugar rates remained unquoted as the trade was assessing the impact of reported hike in the import duty from 20 to 25 per cent and also the surcharge of 10 per cent.

Gold turns weak Gold prices turned moderately weak on the bullion market today due to fall in the overseas prices. Local offtake was also poor, traders said. However, silver rose further on better global advices.Standard gold declined moderately by Rs 5 to close at Rs 4370, as against the last close of Rs 4375. 22-carat gold was nominally quoted lower at Rs 4040 from the previous close of Rs 4045, while ten-tola gold bar (.999 purity) declined by Rs 100 to end at Rs 51,200 from yesterday's close of Rs 51,300.

However, ready silver (.999 fineness), raw silver (.916fineness) and tenderable silver rose further by Rs 25 to close at Rs 8400, Rs 8290 and Rs 8405 respectivelyfrom the previous close of Rs 8375, Rs 8265 and Rs 8280.

Grains listless

A steady condition prevailed on the grains market. Activity was limited.Wheat milling new were placed at Rs 707 and old at Rs 725-731 a quintal. Saurashtra new wheat lokvan were placed at Rs 775-865 and SW at Rs 850-900. MP 147 and Sarbati were on offer at Rs 775-850 and at Rs 900-1300 respectively.

Rice Gujarat-17 ruled at Rs 1750-1850 and Perimal medium at Rs 950-1100.

Cotton quiet

A quietly steady condition prevailed on the cotton market. Activity was very limited.

Arrivals in Punjab zone consisted of 1000 bales of Bengal deshi and 5000 bales of J-34. Bengal deshi roller-ginned were placed in the range of Rs 1350-1425, J-34 saw-ginned good average at Rs 1615-1750 and cart selected at Rs 1700-1920 a maund spot. J-34 roller-ginned good average ruled in the range of Rs 1550-1650.

Sanker were placed at Rs 17,800-19,600 a candy. V-797 were mentioned at Rs 15,000-15,200.

Yarn steady

A quietly steadytrend prevailed on the yarn market.

Viscose filament yarn bright cones first quality Century Rayon 150dn were placed at Rs 217, 120dn at Rs 239, 100dn at Rs 248 and 75dn at Rs 261 a kg. 120dn dull cones were on offer at Rs 247.

Delhi

Business in pulses remained sluggish as import duty was not imposed in the budget. Maharashtra arhar, on selling pressure, plummeted from Rs 1575-1690 to Rs 1525-1625 a quintal. Arhar crop in Bihar was reported bumper one. As against this, urad Rangoon flared up by Rs 55 at Rs 1625 and dal urad chhilka and dhoya climbed up from Rs 1750-2500 to Rs 1800-2700 a quintal on firm Mumbai advices. Rajmash chitra of South flared up by Rs 50 at Rs 3000 a quintal.

Wheat dara and roller flour mill atta revealed a firm tendency as release orders by the Govt have not yet been issued. Jowar ruled firm on stockists demand. Oats ruled firm on better buying support while maize slipped by Rs 5-10 per quintal due to poor offtake.

Urad spurts

Urad Rangoon and dal uradrecorded a sharp rise amidst tight supply position and rajmash chitra of the South and gram also revealed a firm tendency while arhar of Maharashtra tumbled down. Among grains, wheat, jowar and oats ruled firm while maize ruled easy.