However due to shortage of ready stock, poor overseas supplies and in absence of offerings by local bankers on account of frequent bank holidays helped the white metal bounce back from the lower level. Delhi was quiet and in the global market silver looked up modestly to $5.11/5.12 per ounce.

Standard gold closed steady at Rs 4,240 per 10 gm. Gold .22 carat was steady at Rs 3,920 per 10 gm. Prices of gold biscuit (116.50 gm.) however dropped by Rs 50 to Rs 49,500 per piece. Seasonal buying for gold was lower than expected. However limited overseas supplies kept prices in a narrow range during the day. In the international market the yellow metal maintained at the reduced level of $280 per ounce.

G'nut oilmaintains

Groundnut oil ruled steady at the reduced level on the oil,oilseeds market here today. Castorseed and its oil on the other hand looked up modestly on stray global enquiries followed by eased supplies due to closure of major marketyards in the producing centres ahead of March-end (Financial Year).

Groundnut oil remained unchanged at Rs 405 per 10 kg on thin supplies but demand was also remained dull during the day. In Rajkot groundnut oil quoted Rs 5 higher at Rs 610 per 15 kg.

Imported palm oil held at Rs 315 per 10 kg. exclusive of tax amidst shortage of ready stock, but undercurrent of the market was weak as marketmen were expecting fresh inflow of 4000/5000 tonnes at the Mumbai port later in the week. In the global market palm oiln ruled static at $500 per tonne for nearby delivery and at $475/485 per tonne for long delivery.

Castor oil looked up by a rupee to Rs 323/337 per 10 kg on stray overseas enquiries. Castorseed ready climbed by Rs 4 to Rs 1448/1454 per quintal.

In thefutures section castorseed June delivery moved up from Rs 1,474 to Rs 1,481 before settling at Rs.1,476 per quintal on light short covering by shippers. The volume of trading however was limited today. In Ahmedabad castorseed April delivery closed higher at Rs 1,432 and June delivery at Rs 1,467 per quintal, it was learnt.

Sugar improves

A firm trend was noticed on the sugar market following better buying support, coupled with reserved selling.

The extension of March quota to April 7 and delay in the announcement of quota for the next quarter have caused shrinkage in the offerings in sugar. This, coupled with improved offtake has pushed up the price by Rs 5 to 7 a quintal. M-30 were up at Rs 1475-1490 and S-30 at Rs 1455-1465 ex-octroi checkpost. Ex-godown, the price ruled at Rs 1485-1545 and at Rs 1467-1500 respectively.

In tenders, M-30 were indicated at Rs 1435-1440 and S-30 at Rs 1415-1425 in Kolhapur line.

Brazilian white at Rs 1360 and biscuit colour at Rs 1250 plus sales tax weresteady.

Grains unchanged

A steady trend prevailed on the grains market. Activity was somewhat better.

Wheat milling were mentioned at Rs 600-610 a quintal. North Gujarat Sonaklyan were traded at Rs 700-725 and 496 at Rs 850-900. Saurashtra Lokvan were on offer at Rs 800-850. SW fetched Rs 900-1100. MP 147 and Sarbati were transacted at Rs 850-900 and at Rs 900-1300 respectively.

Rice remained well held on restricted supply. SLO were in demand at Rs 1100-1200. Perimal Punjab were placed at Rs 950-1100 and superior at Rs 1200-1400. AP cultured kolams were mentioned at Rs 1400-1700.

Punjab cottons edge up

A steady-to-better condition was in evidence on the cotton market.

In Punjab zone J-34 price was edged up by Rs 5 to 10 a maund on lower arrivals and improved inquiries. Saw-ginned good average Punjab were placed at Rs 1660-1760, Haryana at Rs 1620-1680 and Rajasthan at Rs 1660-1695 spot.

Cart selected were mentioned at Rs 1825-1940, at Rs 1740-1750 and at Rs 1710-1730respectively. Roller-ginned good average Punjab and Haryana were quoted at Rs 1560-1660 and at Rs 1580-1590 respectively while Rajasthan ruled at Rs 1585-1615. Bengal deshi Punjab at Rs 1350-1425, Haryana at Rs 1330-1335 and Rajasthan at Rs 1370-1390 were steady.

Arrivals consisted of 500 bales of Bengal deshi and 2000 bales of J-34.

Gujarat as also MP cotton ruled unchanged. V-797 were placed at Rs 13,300-13,500 a candy. Sanker average ruled at Rs 17,500-18,500 and superior at Rs 19,000-20,000.

Yarn quiet

A very quiet condition continued on the yarn market following sluggish activity.

As highly disconcerting power situation in Bhiwandi continued to hit the powerloom operations, the capacity utilisation has been down by around 30 per cent. Thus, the demand for polyester yarn as also other items remained very sluggish and prices languishing at rock bottom levels. Polyester texturised yarn grey first quality of medium-sized units 80dn rotoset were on offer at Rs 81-82 a kg. Among other items,80dn micro roto were placed at Rs 90, weft at Rs 78 and warp at Rs 86-87. 80/1000dn and 80/1400dn were mentioned at Rs 125-130 and at Rs 130-135 respectively.

In the case of 150dn, weft found sellers at Rs 64-65, warp at Rs 72-73, single roto at Rs 65-66 and double roto at Rs 66-67.