India: Polished Trading Slow

Sentiment weak amid slowpolished trading. Foreign buyers looking for bargains and pushing for deeperdiscounts on goods below 0.50 ct. Local dealers cautious, despite boost fromrupee's rise to INR 68.6/$1. Liquidity tight due to overseas purchasers delayingpayments, and businesses settling accounts before the financial year-end. Roughmarket subdued as cutters try to reduce polished inventory and avoidmanufacturing low-profit rough.

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