DESPITE the rate of inflation touching a 13-year high of 11.05%, the Delhi bullion market remained strong following firm global advices. Spot Silver (.999) stepped ahead by Rs 50 to Rs 24,550 per kg as silver in London scaled a high of 1,743 cent per ounce. Bar silver was also traded strong at Rs 24,250 per kg on stockists' support. Gold Standard (.999) flared up by Rs 120 to Rs 12,690 per 10 gm closely following London gold, which surged to $902 per ounce. Gold one kg bar (.950) was also traded firm at Rs 12,630 per 10 gm, Gold Sovereign was up Rs 25 at Rs 9,625/10,025 per 8 gm. Gold ornaments 22 carat, in tandem, moved up from Rs 11,522 to Rs 11,632 per 10 gm on local demand.
OIL & OILSEEDS
Closely following the overseas trend, the Delhi oil and oilseeds market remained bearish on Friday, with all major edible oils dropping by Rs 50/60 a quintal on stockists' selling. Mustard oil and Cottonseed oil were traded lower by Rs 50 per quintal. Mustard oil was seen quoting at Rs 7100 per quintal, while cottonseed oil stood at Rs 6500 per quintal. Mustard seed also eased by Rs 25/30 at Rs 2950/3225 per quintal on weak demand. Mustard DOC was down by Rs 10 at Rs 1050/1150 per quintal on lack of buying support. CPO (crude palm oil) on KLCE was down by 54 Ringgit, while Chicago soya oil futures went down by 134 cent on speculative selling. CPO in Malaysian spot market fell by $ 30 to $ 1175/1180 per tonne pulling down CPO in Kandla by Rs 50 to Rs 5150 per quintal.
GRAINS & PULSES
Expectation of good crop due to early monsoon kept rice weak on the Delhi grains and pulses market on Friday. Rice 1121 dropped by Rs 400/500 to Rs 6900/7400 per quintal. Rice basmati was also traded weak at Rs 7900/8200 per quintal depending on the quality. Rice sharbati fell by Rs 200 to Rs 3200/3500 per quintal. Rough rice though edged up by Rs 40/50 with rice permal and wand quoting at Rs 1440/1490 and Rs 1650/1725 per quintal on fresh buying. In the pulses section, Rajmash Chitra China shot up by Rs 200/250 to Rs 4100/4300 per quintal as its prices in China surged by $ 75 to $ 1100/1150 per tonne. Kabuli gram Mexico and Rangoon appreciated by Rs 250 to Rs 4000 and Rs 2850/2900 per quintal on rise in import booking rate. Masoor (lentil) Bold was up Rs 150 at Rs 3600/4050 per quintal on tight stocks. Masoor small, too settled firm at Rs 3700 per quintal on buying support. Masoor dal and malka gained Rs 150/200 on retailers' buying. Urad (black matpe), Peas and Lobia also closed firm on local demand.
NON-FERROUS METALS
Nickel Russian plate and Inco nickel tumbled by Rs 30/35 a kg to Rs 1,200/1,210 and Rs 1,310/1,315 on stockists and importers' selling as its prices on LME dropped from $22,870 to $22,520 per tonne on speculative selling. Zinc sheet was down Rs 1.0/2.50 per kg to Rs 103.50/125 on lack of buying interest. Copper scrap firmed up by 50 paise a kg as its prices on LME surged from $8,495 to $8,543 per tonne. Aluminium scrap also held firm with prices quoting higher by 50 paise a kg on industrial demand.
CHEMICALS
Thin arrivals coupled with good industrial demand kept Delhi chemical market buoyant on Friday. Sodium Bichromate surged to a fresh high of Rs 6,500, gaining sharply by Rs 1,000 per 50 kg bag amid tight supply. Thiourea was up Rs 50 at Rs 310 per kg on the back of reduced imports from China coupled with heavy demand from glass and other consuming industries. Resin scaled to a high of Rs 775/815 per tin, gaining smartly by Rs 25 following thin arrivals from Jammu & Kashmir and Himachal Pradesh. Turpentine oil and Varnish edged up by Rs 5 per litre at Rs 65 on local demand. Among the losers was Caustic Soda flake, which was down Rs 30 at Rs 1380 per bag on higher arrivals.
OIL & OILSEEDS
Closely following the overseas trend, the Delhi oil and oilseeds market remained bearish on Friday, with all major edible oils dropping by Rs 50/60 a quintal on stockists' selling. Mustard oil and Cottonseed oil were traded lower by Rs 50 per quintal. Mustard oil was seen quoting at Rs 7100 per quintal, while cottonseed oil stood at Rs 6500 per quintal. Mustard seed also eased by Rs 25/30 at Rs 2950/3225 per quintal on weak demand. Mustard DOC was down by Rs 10 at Rs 1050/1150 per quintal on lack of buying support. CPO (crude palm oil) on KLCE was down by 54 Ringgit, while Chicago soya oil futures went down by 134 cent on speculative selling. CPO in Malaysian spot market fell by $ 30 to $ 1175/1180 per tonne pulling down CPO in Kandla by Rs 50 to Rs 5150 per quintal.
GRAINS & PULSES
Expectation of good crop due to early monsoon kept rice weak on the Delhi grains and pulses market on Friday. Rice 1121 dropped by Rs 400/500 to Rs 6900/7400 per quintal. Rice basmati was also traded weak at Rs 7900/8200 per quintal depending on the quality. Rice sharbati fell by Rs 200 to Rs 3200/3500 per quintal. Rough rice though edged up by Rs 40/50 with rice permal and wand quoting at Rs 1440/1490 and Rs 1650/1725 per quintal on fresh buying. In the pulses section, Rajmash Chitra China shot up by Rs 200/250 to Rs 4100/4300 per quintal as its prices in China surged by $ 75 to $ 1100/1150 per tonne. Kabuli gram Mexico and Rangoon appreciated by Rs 250 to Rs 4000 and Rs 2850/2900 per quintal on rise in import booking rate. Masoor (lentil) Bold was up Rs 150 at Rs 3600/4050 per quintal on tight stocks. Masoor small, too settled firm at Rs 3700 per quintal on buying support. Masoor dal and malka gained Rs 150/200 on retailers' buying. Urad (black matpe), Peas and Lobia also closed firm on local demand.
NON-FERROUS METALS
Nickel Russian plate and Inco nickel tumbled by Rs 30/35 a kg to Rs 1,200/1,210 and Rs 1,310/1,315 on stockists and importers' selling as its prices on LME dropped from $22,870 to $22,520 per tonne on speculative selling. Zinc sheet was down Rs 1.0/2.50 per kg to Rs 103.50/125 on lack of buying interest. Copper scrap firmed up by 50 paise a kg as its prices on LME surged from $8,495 to $8,543 per tonne. Aluminium scrap also held firm with prices quoting higher by 50 paise a kg on industrial demand.
CHEMICALS
Thin arrivals coupled with good industrial demand kept Delhi chemical market buoyant on Friday. Sodium Bichromate surged to a fresh high of Rs 6,500, gaining sharply by Rs 1,000 per 50 kg bag amid tight supply. Thiourea was up Rs 50 at Rs 310 per kg on the back of reduced imports from China coupled with heavy demand from glass and other consuming industries. Resin scaled to a high of Rs 775/815 per tin, gaining smartly by Rs 25 following thin arrivals from Jammu & Kashmir and Himachal Pradesh. Turpentine oil and Varnish edged up by Rs 5 per litre at Rs 65 on local demand. Among the losers was Caustic Soda flake, which was down Rs 30 at Rs 1380 per bag on higher arrivals.
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